Apotex' Yorpharm generic injectables marketer and GEN/Rx agree in principle to merge for $20 mil..
YORPHARM, GEN/Rx GENERIC INJECTABLES FIRMS WILL MERGE FOR ABOUT $20 MIL. based on the recent trading prices of GEN/Rx's 5.2 mil. shares outstanding. Under the definitive agreement announced Jan. 27, GEN/Rx will issue approximately 13 mil. shares of common stock in exchange for 100% of Yorpharm's shares plus $3 mil. in cash. The merger is dependent upon completion of certain due diligence and the approval of both companies' boards. The deal is forecast to close tentatively on Feb. 8.
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