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Sandoz

This article was originally published in The Tan Sheet

Executive Summary

Completes acquisition of Gerber Products Company, purchasing approximately 99.2% of outstanding shares of common stock at $53 per share in cash, for a total purchase price of approximately $3.7 bil., the firm said Aug. 25. Sandoz began the tender offer at the end of May ("The Tan Sheet" May 30, In Brief). Gerber will immediately merge with a North American Sandoz subsidiary established specifically for the acquisition, after which Sandoz will own 100% of Gerber. Sandoz hopes to strengthen its nutrition division with the purchase of Gerber, which holds 70% of the baby food market and had sales of $1.2 bil. in the year ended March 1994

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