SC 14D9

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 14D-9

Solicitation/Recommendation Statement

under Section 14(d)(4) of the Securities Exchange Act of 1934

 

 

Celgene Corporation

(Name of Subject Company)

 

 

Celgene Corporation

(Name of Person Filing Statement)

 

 

Common Stock, par value $.01 per share

(Title of Class of Securities)

151020104

(CUSIP Number of Class of Securities)

Peter N. Kellogg

Chief Financial Officer

Celgene Corporation

86 Morris Avenue

Summit, New Jersey 07901

(908) 673-9000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications

on Behalf of the Person Filing Statement)

 

 

 

¨ Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

 

 

 


ITEM 1. Subject Company Information.

The name of the subject company is: Celgene Corporation

The address and telephone number of its principal executive offices are:

86 Morris Avenue

Summit, New Jersey 07901

(908) 673-9000

The exact title of the subject class of equity securities is: Common Stock, par value $.01 per share.

The number of shares outstanding of the above class as of October 21, 2014 is: 798,704,188

 

ITEM 2. Identity and Background of Filing Person.

The name of the filing person is: Celgene Corporation. The filing person is the subject company.

The address and telephone number of its principal executive offices are:

86 Morris Avenue

Summit, New Jersey 07901

(908) 673-9000

The tender offer to which this Schedule relates is an unsolicited “mini-tender” offer by TRC Capital Corporation to purchase up to 1,000,000 shares of Celgene’s common stock, approximately 0.13% of the outstanding shares, at $101.75 per share. TRC Capital’s offer is 4.71% below the market price on November 18, 2014, the date prior to the commencement of the offer, and approximately 10.5% below the closing market price of $113.69 for Celgene’s common stock on November 28, 2014.

The name of the offeror is: TRC Capital Corporation

The address of the offeror is: 80 Bloor Street West, Suite 400, Toronto, Ontario M5S 2V1, Canada

 

ITEM 3. Past Contracts, Transactions, Negotiations and Agreements.

The filing person is the subject company. The filing person and its affiliates have no material agreement, arrangement or understanding, nor do they have any actual or potential conflict of interest with the offeror, its executive officers, directors or affiliates.

 

ITEM 4. The Solicitation or Recommendation.

The filing person is recommending to its stockholders that they reject the tender offer. The filing person’s reasons for its recommendation are set forth on Exhibit 1 to this Schedule. To the extent known by the filing person, neither the filing person nor any executive officer, director, affiliates or subsidiary of the filing person currently intends to tender or sell, subject to sales in the ordinary course, the subject securities that are held of record or beneficially owned by that person. To its knowledge, the filing person believes that it and its executive officers, directors, affiliates and subsidiaries intend to hold, subject to sales in the ordinary course, all such securities held by them.

 

ITEM 5. Person/Assets, Retained, Employed, Compensated or Used.

The filing person has not directly or indirectly employed, retained, or agreed to compensate any person to make solicitations or recommendations in connection with the “mini-tender” offer.


ITEM 6. Interest in Securities of the Subject Company.

Other than gifts aggregating 50,000 shares by Mr. Hugin in November 2014, information required pursuant to this Item is incorporated by reference from the following Form 4, Statement of Changes in Beneficial Ownership of Securities filed with the Securities and Exchange Commission via EDGAR on the dates indicated:

Form 4 filed with the SEC on behalf of Thomas Daniel on November 26, 2014;

Form 4 filed with the SEC on behalf of Perry Karsen on November 14, 2014;

Form 4 filed with the SEC on behalf of Robert Hugin on November 4, 2014;

Form 4 filed with the SEC on behalf of Lawrence Stein on October 29, 2014;

Form 4 filed with the SEC on behalf of Scott Smith on October 29, 2014;

Form 4 filed with the SEC on behalf of Ernest Mario on October 29, 2014;

Form 4 filed with the SEC on behalf of Peter Kellogg on October 29, 2014;

Form 4 filed with the SEC on behalf of Perry Karsen on October 29, 2014;

Form 4 filed with the SEC on behalf of Robert Hugin on October 29, 2014;

Form 4 filed with the SEC on behalf of Jacqualyn Fouse on October 29, 2014;

Form 4 filed with the SEC on behalf of Thomas Daniel on October 29, 2014;

Form 4 filed with the SEC on behalf of Mark Alles on October 29, 2014; and

Form 4 filed with the SEC on behalf of Michael Casey on October 28, 2014.

Open market purchases under the Company’s share repurchase program pursuant to a Rule 10b5-1 trading plan for the 60 day period prior to the date hereof are as follows:

 

Trade
Date
  Number of
Shares
    Average
Price
    Total Paid  
11/28/2014     15,000      $ 113.6688      $ 1,705,032   
11/26/2014     14,800      $ 112.0454      $ 1,658,272   
11/25/2014     34,301      $ 110.6483      $ 3,795,347   
11/24/2014     2,400      $ 109.1225      $ 261,894   
11/21/2014     35,973      $ 108.3490      $ 3,897,639   
11/20/2014     76,742      $ 106.9548      $ 8,207,925   
11/19/2014     55,847      $ 106.4597      $ 5,945,455   
11/18/2014     6,401      $ 104.9218      $ 671,604   
11/17/2014     70,400      $ 104.5001      $ 7,356,807   
11/14/2014     195,783      $ 103.8282      $ 20,327,796   
11/13/2014     103,289      $ 107.5410      $ 11,107,802   
11/12/2014     71,148      $ 107.3619      $ 7,638,584   
11/11/2014     82,581      $ 107.9763      $ 8,916,791   
11/10/2014     53,900      $ 107.1957      $ 5,777,848   
11/7/2014     89,686      $ 106.3814      $ 9,540,922   
11/6/2014     53,416      $ 105.9668      $ 5,660,323   
11/5/2014     101,979      $ 105.8291      $ 10,792,346   
11/4/2014     96,500      $ 105.8964      $ 10,219,003   
11/3/2014     81,998      $ 106.7938      $ 8,756,878   
10/31/2014     80,200      $ 107.8091      $ 8,646,290   
10/30/2014     74,284      $ 106.2559      $ 7,893,113   
10/29/2014     83,300      $ 105.1538      $ 8,759,312   
10/28/2014     79,200      $ 105.4194      $ 8,349,216   
10/27/2014     85,700      $ 102.8743      $ 8,816,328   
10/24/2014     87,000      $ 102.3811      $ 8,907,156   
10/16/2014     12,995      $ 84.7201      $ 1,100,938   
10/15/2014     28,924      $ 84.5207      $ 2,444,677   
10/14/2014     477,618      $ 87.6566      $ 41,866,370   
10/13/2014     491,076      $ 88.4984      $ 43,459,440   
10/10/2014     196,366      $ 91.5023      $ 17,967,941   
10/9/2014     69,073      $ 92.6962      $ 6,402,805   
10/8/2014     70,107      $ 92.1453      $ 6,460,031   
10/7/2014     110,000      $ 92.7454      $ 10,201,994   
10/2/2014     112,742      $ 92.3409      $ 10,410,698   
10/1/2014     135,715      $ 93.3495      $ 12,668,927   
 

 

 

   

 

 

   

 

 

 
    3,436,444      $ 97.95      $ 336,593,503   

 

ITEM 7. Purposes of the Transaction and Plans or Proposals.

The subject company is not undertaking or engaging in any negotiations in response to the tender offer.

 

ITEM 8. Additional Information.

Not applicable.

 

ITEM 9. Exhibits.

Attached as Exhibit 1 is the recommendation of the subject company with respect to the tender offer contained in the subject company’s press release dated December 1, 2014.


SIGNATURE

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Celgene Corporation
By:  

/s/ Peter N. Kellogg

  Peter N. Kellogg, Chief Financial Officer
Dated: December 1, 2014