Orajel joins C&D
This article was originally published in The Tan Sheet
Church & Dwight adds Orajel to its brand portfolio as the firm completes its acquisition of the Del OTC pharmaceutical business from Coty Inc, according to a July 7 release. C&D paid $380 million cash at closing while the purchase price includes a $250 million addition to its bank credit facility and available cash. The Princeton, N.J.-based firm expects the acquisition, announced in April 2008, to have a "neutral impact on 2008 earnings per share due primarily to one-time integration costs and the step-up of inventory" (1"The Tan Sheet" April 7, 2008, p. 3)...
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