Prestige Brands (PBH) to Acquire 17 OTC Pharma Brands from Glaxo (GSK) in $660M Deal
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Prestige Brands Holdings, Inc. (NYSE: PBH) has signed a definitive agreements with Glaxo (NYSE: GSK) to acquire 17 over-the-counter (OTC) pharmaceutical brands sold in North America for a total of $660 million in cash. The transactions are expected to be completed in the first half of calendar year 2012 subject to customary legal and regulatory closing conditions, including clearance under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as applicable, and the Company closing on its committed financing for the acquisitions.
Among the brands the Company agreed to acquire are the BC, Goody's, and Ecotrin brands of pain relievers; Beano, Gaviscon, Phazyme, Tagamet and Fiber Choice GI brands; and the Sominex sleep aid brand.
Sawaya Segalas & Co., Inc. LLC is acting as exclusive financial advisor to Prestige in these transactions.
Among the brands the Company agreed to acquire are the BC, Goody's, and Ecotrin brands of pain relievers; Beano, Gaviscon, Phazyme, Tagamet and Fiber Choice GI brands; and the Sominex sleep aid brand.
Sawaya Segalas & Co., Inc. LLC is acting as exclusive financial advisor to Prestige in these transactions.
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