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Genomma Refuses To Raise Price, Drops Prestige Bid

This article was originally published in The Tan Sheet

Executive Summary

Genomma drops its unsolicited offer because it was unwilling to meet Prestige’s demand for a higher price. The Mexican firm said it secured funding and met other milestones Prestige insisted on.

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Prestige Brands Expects OTC Assets Will Shake Loose From M&A Activity

“If you looked at it based on history,” consolidation has created opportunities to acquire OTC brands, says Prestige Brands CEO Matthew Mannelly. The firm’s interest in adding brands is “stronger than ever,” he adds.

Prestige Brands Expects OTC Assets Will Shake Loose From M&A Activity

“If you looked at it based on history,” consolidation has created opportunities to acquire OTC brands, says Prestige Brands CEO Matthew Mannelly. The firm’s interest in adding brands is “stronger than ever,” he adds.

Rapidly Growing Prestige Brands Still Positioned For OTC Pickups

The company says it successfully integrated the OTC portfolio acquired from GlaxoSmithKline and is using free cash flow to trim its debt load in the wake of the debt-financed $660 million deal. Prestige reported Q1 net sales up 54.7%, including 4.2% organic growth in OTC health care.

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