Merz Pharma drops out of bidding war for Obagi Medical
April 8 (Reuters) - Germany's Merz Pharma Group withdrew its offer for U.S. cosmetic products maker Obagi Medical Products Inc, after rival bidder Canada's Valeant Pharmaceuticals International Inc raised its offer last week.
Merz had offered $22 a share, which was topped by Valeant with a $24-a-share offer on April 3.
- Malaysia Airlines plane missing, presumed crashed in South China Sea |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Malaysian plane crashed off Vietnam coast: state media
- No signal picked up from missing Malaysia Airlines plane-Vietnam official