USANA Health Sciences (USNA) to Receive Buyout Offer from Gull Holdings for $26/Share
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USANA Health Sciences, Inc. (Nasdaq: USNA) today announced that Gull Holdings intends to make an offer to USANA shareholders to acquire all of the outstanding shares that Gull Holdings and the other participants in the offer do not already own, for cash at a per share offer price of $26.00. Gull Holdings is controlled by Dr. Myron W. Wentz, Chairman and Chief Executive Officer of USANA.
The proposed offer price represents a 24.8-percent premium to the closing price of USANA common stock on May 12, 2008 and a 29.2-percent premium to the volume weighted average price of USANA common stock for the 30-day period ending on May 12, 2008.
The offer is proposed to be made through an acquisition vehicle, Unity Acquisition Corp., controlled by Gull Holdings. Gull Holdings and the other participants in the offer currently own or control approximately 68% of USANA common stock.
USANA Health Sciences, Inc. develops, manufactures, and distributes nutritional and personal care products. [BCS]
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