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Prestige Brands Holdings, Inc. (NYSE:PBH) today issued the following statement in response to Genomma Lab’s comments:
“Prestige is committed to maximizing stockholder value and would be open to compelling offers that provide certainty of closing. As we have previously stated and as we told Genomma and its advisors on April 5, should they make such an offer, there would be a basis to engage with them. However, Genomma's offer has not changed, and has already been unanimously rejected by the Prestige Board as being inadequate and opportunistic. Aside from the offer not being compelling, Genomma has not provided any evidence that it has obtained financing commitments. We remain open to meeting with Genomma should they put forward a compelling offer.”
Separately, Prestige announced that the record date for its Annual Meeting has been set for May 7, 2012. As previously announced, the meeting is scheduled to be held on June 29, 2012.
Sawaya Segalas & Company, Inc., LLC and Morgan Stanley & Co. LLC are financial advisors to the Company and Kirkland & Ellis LLP is legal counsel.
About Prestige Brands Holdings, Inc.
The Company markets and distributes brand name over-the-counter and household cleaning products throughout the U.S., Canada, and certain international markets. Core brands include Chloraseptic® sore throat treatments, Clear Eyes® eye care products, Compound W® wart treatments, The Doctor’s® NightGuard® dental protector, the Little Remedies® and PediaCare® lines of pediatric over-the-counter products, Efferdent® denture care products, Luden’s® throat drops, Dramamine® motion sickness treatment, BC® and Goody’s® analgesics, Gaviscon® antacid and Beano® gas treatment.
Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the federal securities laws. “Forward-looking statements” generally can be identified by the use of forward-looking terminology such as “assumptions,” “target,” “guidance,” “outlook,” “plans,” “projection,” “may,” “will,” “would,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “potential,” or “continue” (or the negative or other derivatives of each of these terms) or similar terminology. Forward-looking statements in this news release include, without limitation, statements regarding a possible transaction involving the Company. These statements are based on management’s estimates and assumptions with respect to future events and are believed to be reasonable, although they are inherently uncertain and difficult to predict. Actual results could differ materially from those expected as a result of a variety of factors. A discussion of factors that could cause results to vary is included in the Company’s Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission (the “SEC”).