Reuters logo
UPDATE 1-Mexico's Genomma will not raise Prestige offer
April 26, 2012 / 8:30 PM / 5 years ago

UPDATE 1-Mexico's Genomma will not raise Prestige offer

April 26 (Reuters) - Mexican pharmaceutical products company Genomma Lab said on Thursday its board will not raise its initial $16.60 per share offer for Prestige Brands Holdings , in spite of that company rejecting the offer.

Genomma, which sought to buy the maker of Comet, Spic and Span, and other cleaning products in February, said in a statement it has agreed financing to complete the deal.

Prestige Brands said in March Genomma’s proposal was “inadequate and highly conditional.”

Genomma’s offer of $16.60 in cash per share for Prestige Brands was a premium of 23 percent over the company’s closing price on Feb. 17, the last close before Genomma made its offer.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below