Prestige Downplays Hostile Genomma Bid, Leaving Merger In Doubt
This article was originally published in The Tan Sheet
Executive Summary
Prestige Brands encourages shareholders not to act on Genomma Lab’s “highly conditional” unsolicited $834 million takeover bid. A merger would give Genomma access to the U.S. market and the Mexico City-based bidder said it would boost Prestige’s marketing and international presence. Analysts give the deal a 50/50 shot of happening.
You may also be interested in...
Sales & Earnings In Brief
GlaxoSmithKline and Prestige Brands report financial results in the wake of their OTC brands deal; Allegra boosts Sanofi’s consumer business; lower private label sales hit NBTY; USANA plots North American growth.
Prestige Acquires 17 Glaxo OTC Brands, Enters Analgesics Market
Prestige Brands acquires GlaxoSmithKline’s BC and Goody’s analgesic brands as part of $660 million deal for 17 North American OTC lines, also including Beano gas treatment, FiberChoice supplement and Sominex sleep aid.
Investor Icahn Ups Offer For Clorox, But Bidding War “Unlikely”
The future of Burt’s Bees marketer Clorox is unclear with a buyout offer on the table from its largest shareholder.