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CIMA negotiations with Cephalon

Executive Summary

CIMA reopens negotiations with Cephalon on a proposed merger. CIMA's board previously deemed a bid made by Cephalon of $26 per share insufficient to break CIMA's proposed merger with aaiPharma (1"The Pink Sheet" Sept. 8, 2003, In Brief). Cephalon has presumably increased its offer. CIMA and aaiPharma announced a proposed merger Aug. 5; Cephalon then made an unsolicited takeover bid...

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