Exhibit 99(a)(1)(E)
Offer To Purchase For Cash
All Outstanding of Shares of Common Stock
of
INHIBITEX, INC., a Delaware corporation
at
$26.00 NET PER SHARE
Pursuant to the Offer to Purchase dated January 13, 2012
by
INTA ACQUISITION CORPORATION, a Delaware corporation
and a wholly-owned subsidiary of
BRISTOL-MYERS SQUIBB COMPANY, a Delaware corporation.
THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, FEBRUARY 10, 2012, UNLESS THE OFFER IS EXTENDED.
January 13, 2012
To Our Clients:
Enclosed for your consideration are the Offer to Purchase, dated January 13, 2012 (as it may be amended or supplemented from time to time, the “Offer to Purchase”), and the related Letter of Transmittal (as it may be amended or supplemented from time to time, the “Letter of Transmittal” and, together with the Offer to Purchase, the “Offer”) in connection with the offer by Inta Acquisition Corporation, a Delaware corporation (“Purchaser”) and a wholly-owned subsidiary of Bristol-Myers Squibb Company, a Delaware corporation (“Parent”), to purchase all outstanding shares of common stock, par value $0.001 per share (the “Shares”), of Inhibitex, Inc., a Delaware corporation (the “Company”), at a purchase price of $26.00 per Share, net to the seller in cash without interest, less any applicable withholding taxes, upon the terms and subject to the conditions of the Offer.
Also enclosed is a letter to stockholders of the Company from the Chief Executive Officer of the Company, accompanied by the Company’s Solicitation/Recommendation Statement on Schedule 14D-9.
We or our nominees are the holder of record of Shares held for your account. A tender of such Shares can be made only by us as the holder of record and pursuant to your instructions.
We request instructions as to whether you wish us to tender any or all of the Shares held by us for your account, upon the terms and subject to the conditions set forth in the enclosed Offer to Purchase and the Letter of Transmittal.
Please note carefully the following:
1. | The offer price for the Offer is $26.00 per Share, net to you in cash without interest, less any applicable withholding taxes. |
2. | The Offer is being made for all outstanding Shares. |
3. | The Offer is being made in connection with the Merger Agreement and Plan of Merger, dated as of January 7, 2012 (together with any amendments or supplements thereto, the “Merger Agreement”), among Parent, Purchaser and the Company, pursuant to which, after the completion of the Offer and the satisfaction or waiver of the conditions set forth therein, Purchaser and Company will merge (the “Merger”). |
4. | The board of directors of the Company (the “Company Board”), has determined that the Merger Agreement and the transactions contemplated thereby, including the Top-Up Option (as defined in the Offer to Purchase), the Offer and the Merger, are advisable, fair to and in the best interests of the Company and its stockholders. Accordingly, the Company Board recommends that the Company’s stockholders accept the Offer and tender their Shares to Purchaser in the Offer and, if required by applicable law, adopt and approve the Merger Agreement and the transactions contemplated thereby, including the Merger. |
5. | The Offer and withdrawal rights will expire at 12:00 midnight, New York City time, on Friday, February 10, 2012, unless the Offer is extended by Purchaser. Previously tendered Shares may be withdrawn at any time until the Offer has expired. |
6. | The Offer is subject to certain conditions described in Section 15 of the Offer to Purchase. |
7. | Any transfer taxes applicable to the sale of Shares to Purchaser pursuant to the Offer will be paid by Purchaser, except as otherwise provided in the Letter of Transmittal. |
If you wish to have us tender any or all of your Shares, then please so instruct us by completing, executing, detaching and returning to us the Instruction Form on the detachable part hereof. An envelope to return your instructions to us is enclosed. If you authorize tender of your Shares, then all such Shares will be tendered unless otherwise specified on the Instruction Form.
Your prompt action is requested. Your Instruction Form should be forwarded to us in ample time to permit us to submit the tender on your behalf before the expiration of the Offer.
The Offer is not being made to, nor will tenders be accepted from or on behalf of, holders of Shares in any jurisdiction in which the making of the Offer or acceptance thereof would not be in compliance with the laws of such jurisdiction.
INSTRUCTION FORM
With Respect to the Offer To Purchase For Cash
All Outstanding of Shares of Common Stock
of
INHIBITEX, INC., a Delaware corporation
at
$26.00 NET PER SHARE
Pursuant to the Offer to Purchase dated January 13, 2012
by
INTA ACQUISITION CORPORATION, a Delaware corporation
and a wholly-owned subsidiary of
BRISTOL-MYERS SQUIBB COMPANY, a Delaware corporation.
The undersigned acknowledge(s) receipt of your letter and the enclosed Offer to Purchase, dated January 13, 2012 (as it may be amended or supplemented from time to time, the “Offer to Purchase”), and the related Letter of Transmittal (as it may be amended or supplemented from time to time, the “Letter of Transmittal” and, together with the Offer to Purchase, the “Offer”), in connection with the offer by Inta Acquisition Corporation, a Delaware corporation (the “Purchaser”) and a direct wholly-owned subsidiary of Bristol-Myers Squibb Company, a Delaware corporation (“Parent”), to purchase all outstanding shares of common stock, par value $0.001 per share (the “Shares”), of Inhibitex, Inc., a Delaware corporation, at a purchase price of $26.00 per Share, net to the seller in cash without interest, less any applicable withholding taxes, upon the terms and subject to the conditions of the Offer.
The undersigned hereby instruct(s) you to tender to the Purchaser the number of Shares indicated below or, if no number is indicated, all Shares held by you for the account of the undersigned, upon the terms and subject to the conditions set forth in the Offer.
ACCOUNT NUMBER:
NUMBER OF SHARES BEING TENDERED HEREBY: SHARES*
The method of delivery of this document is at the election and risk of the tendering stockholder. If delivery is by mail, then registered mail with return receipt requested, properly insured, is recommended. In all cases, sufficient time should be allowed to ensure timely delivery.
Unless otherwise indicated, it will be assumed that all Shares held by us for your account are to be tendered.
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