Warner Chilcott, 4 Other Companies Unveil Stock Offerings

   By Kristin Jones 
 

Pharmaceutical company Warner Chilcott PLC (WCRX) and four other companies unveiled stock offerings after hours, sending shares down.

Warner Chilcott said that funds affiliated with Bain Capital Partners, J.P. Morgan Partners, Thomas H. Lee Partners, L.P., and members of Warner Chilcott's senior management are offering an undisclosed number of shares. The three firms each own a stake of less than 1% in Warner Chilcott, which won't receive any proceeds from the sale. The maker of women's healthcare and dermatology products said in April that it was holding talks with potential buyers as part of a broad review of options for its business. The company reported last month second-quarter earnings fell 26% on a steep decline in health-care product sales. Trading in Warner Chilcott shares was halted briefly after hours, but has since resumed. The stock is down 8.4% to $13 in late trading.

BreitBurn Energy Partners L.P. (BBEP) is offering 10 million common units representing limited-partner interests in the energy company. BreitBurn, which had around 69.1 million units outstanding as of Aug. 7, plans to use to proceeds to pay down debt. Units fell 4.2% to $18.48 in after-hours trading.

Enbridge Energy Partners L.P. (EEP) has commenced an offering of around 14 million Class A units representing limited-partner interests. The oil and gas transporter expects to use the proceeds to fund a part of its capital expansion projects or for general purposes. Enbridge had around 238.1 million Class A units outstanding as of July 31. The equity was down 4.2% to $28.46 after hours.

Zillow Inc. (Z) said it will offer 3.18 million Class A shares as the real-estate information provider raises funds for general purposes, which may include working capital, sales and marketing and other expenses. Zillow, which had roughly 21 million Class A shares outstanding as of July 31, may also use the proceeds for acquisitions. Shares fell 2.9% to $41.20 in after-hours trading.

Home Loan Servicing Solutions Ltd. (HLSS) said it is commencing a public offering of 11.5 million shares, intending to use the proceeds to buy the right to receive servicing and other fees and assets from Ocwen Loan Servicing LLC. Home Loan Servicing Solutions had around 14.2 million shares outstanding as of July 16. Shares fell 2.8% to $14.90 in after-hours trading.

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