May 7 Activist investor Ralph Whitworth's
Relational Investors LLC raised its stake in generic drug firm
Par Pharmaceutical Cos Inc, and said the company should
focus its strategies on a potential takeover of Par.
While Par's management was taking steps to improve the
company's valuation, the stock will continue to trade at a
substantial discount to the price that can be offered in a sale
to a larger generic company, Relational said.
"Specifically, (Relational is) confident that substantial
cost savings could be achieved in a transaction with a strategic
buyer," the investor said in a regulatory filing.
Last year Relational had said Par should consider strategic
Woodcliff Lake, New Jersey-based Par's shares were trading
nearly flat at $41.69 in morning trade on the New York Stock