Bergen Brunswig
This article was originally published in The Tan Sheet
Executive Summary
Withdraws its joint bid with Cooperation Pharmaceutique Francaise ("Cooper"), the largest distributor of OTC drugs in France, to acquire Office Commercial Pharmaceutique, France's largest wholesaler, Bergen said June 18. Under a previously announced joint tender offer, Bergen and Cooper were to have paid about $ 435 mil. for OCP's 2.8 mil. outstanding shares. Bergen would have gained a 20-34% interest in the joint venture and an entree to Europe ("The Tan Sheet" June 7, In Brief). June 18 was the deadline for the partners to declare whether their bid would compete with a higher pending bid from the German company Gehe AG.
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