Medicis Takes Firm Line
Medicis proposed a takeover of Inamed in March, but last week Allergan (AGN) made a bid that Inamed's board said it would consider because it appears to be superior.
Allergan is offering $84 in cash or 0.8498 shares for each share of Inamed. Medicis has offered $30 in cash plus 1.4205 shares of its stock for each share of Inamed. On the basis of Monday's closing price of Medicis, the offer is worth about $74.85 a share.
Medicis' stock price was aided when yet another cosmetic products company,
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