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Valeant Pharmaceuticals International Inc Agrees To Acquire Obagi Medical Products, Inc. For $19.75 Per Share In Cash


Wednesday, 20 Mar 2013 08:01am EDT 

Valeant Pharmaceuticals International Inc announced that it has entered into a definitive agreement under which Valeant will acquire all of the outstanding common stock of Obagi Medical Products, Inc. for $19.75 per share in cash. The transaction is expected to close in the first half of 2013. Under the terms of the agreement, Valeant will commence a tender offer for all outstanding shares of Obagi at a price of $19.75 per share in cash. The tender offer will be conditioned on the tender of a majority of Obagi's shares calculated on a diluted basis, as well as the receipt of certain regulatory approvals and other customary closing conditions. 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 $19.75 per share in cash paid in the tender offer. Obagi's Board of Directors has unanimously approved the transaction. 

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