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Valeant Pharmaceuticals International Inc Increases Offer Price Of $24.00 Per Share In Cash For Obagi Medical Products, Inc

Wednesday, 3 Apr 2013 08:01am EDT 

Valeant Pharmaceuticals International Inc and Obagi Medical Products, Inc. announced that they have executed an amendment to their Agreement and Plan of Merger, dated March 19, 2013. Pursuant to the amendment, Valeant increased offer to acquire Obagi from $19.75 to $24.00 per share in cash. The offer documents will be amended to reflect the new offer price of $24.00 per share. The expiration date of the tender offer will remain 12:00 midnight, New York City time, on April 23, 2013. Following the completion of the tender offer, a wholly owned subsidiary of Valeant will merge with Obagi and the outstanding Obagi shares not tendered in the tender offer will be converted into the right to receive the same $24.00 per share in cash paid in the tender offer. Obagi's Board of Directors has unanimously approved the amended transaction. 

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0.47 +0.36%
1 Oct 2014