USANA for sale
This article was originally published in The Tan Sheet
Executive Summary
USANA Health Sciences' board formed a special committee of independent directors to evaluate a tender offer expected from Gull Holdings, Ltd. and others, to acquire all of its outstanding shares at $26 per share, USANA says May 20. Gull Holdings indicated its intent in a May 13 notice to the Securities and Exchange Commission...
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Unity Acquisition Corp.'s tender offer of $28 per share of USANA Health Science's stock is "inadequate and not in the best interests of USANA's shareholders," the Salt Lake City-based firm announces July 3. USANA says the special committee of its board of directors "unanimously" determined the firm should reject Unity Acquisition's offer. This is not the first tender offer USANA has received. In May, Gull Holdings offered to acquire USANA's outstanding shares for $26 per share (1"The Tan Sheet" May 26, 2008, In Brief)...
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