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Reckitt Benckiser closer to acquiring Adams

This article was originally published in The Tan Sheet

Executive Summary

Reckitt Benckiser cleared another hurdle in its quest to purchase U.S.-based Adams Respiratory Therapeutics, completing its previously announced cash tender offer for all outstanding Adams' shares, UK-based firm reports. Reckitt received 95.9% of outstanding Adams' shares by the close of business Jan. 23. The firm plans to finalize the merger Jan. 29 and will pay $60 per share to remaining Adams' stockholders, the same price paid in the tender offer. The merger will expand the U.S. OTC presence of Reckitt, which also owns Boots Healthcare but is primarily a household cleaning business (1"The Tan Sheet" Dec. 17, 2007, p. 5)...

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