Obagi Medical (OMPI) Bidding War Could Take Stock as High as $27/Share
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Go back to Obagi Medical (OMPI) Bidding War Could Take Stock as High as $27/Share
April 4, 2013 1:33 PM EDT
Yesterday Valeant Pharmaceuticals (NYSE: VRX) raised its offer for Obagi Medical Products, Inc. (NASDAQ: OMPI) from $19.75 to $24 per share, topping Merz's $22 per share bid. Commenting on the development, analyst David M Steinberg of Deutsche bank said he... More
April 2, 2013 12:31 PM EDT
On April 2, 2012, Obagi Medical Products, Inc. (Nasdaq: OMPI) announced that the Obagi Board of Directors had received an unsolicited letter from Merz Pharma offering $22 per share cash to acquire the Company, and the Obagi Board of Directors will evaluate Merz Pharmas offer and... More
April 2, 2013 7:51 AM EDT
In a letter to the Board of Directors of Obagi Medical Products, Inc. (NASDAQ: OMPI) Merz Pharma Group today outlined a proposal to acquire all of the outstanding common stock of Obagi for $22 per share in cash. This proposal represents a 58% premium to Obagi's closing share price on Thursday, March 14, 2013, the last trading day prior to the disclosure on Obagi's fourth quarter earnings call that Obagi had engaged a financial advisor to help explore "all opportunities."
On March 20, 2013, Obagi announced that it entered into a definitive merger agreement with Valeant Pharmaceuticals... More
