Genomma Tries To Force Prestige Takeover By Seeking Board Posts
This article was originally published in The Tan Sheet
Executive Summary
Genomma intends to seek a large board presence after Prestige Brands on March 12 rejected its unsolicited bid of $16.60 a share, an offer Prestige said was “well below the intrinsic value of the firm,” and plagued with other problems, including unsecured finances.
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In Brief
FDA softens disclaimer for green tea QHC; Formulife/Purus covers spectrum of violations; NAD refers Schick case to FTC; Genomma drops Prestige Brands board bid.
Genomma Refuses To Raise Price, Drops Prestige Bid
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.
Genomma Refuses To Raise Price, Drops Prestige Bid
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.