<< Read Full Article

Medicis Takes Firm Line

Stock quotes in this article: MRX , MNT , AGN , IMDC  

The battle for cosmetic drug-and-device supremacy got uglier Tuesday when Medicis (MRX Quote) told the board of Inamed (IMDC Quote) to formally reject another company's competing takeover bid or face the monetary consequences.

Medicis proposed a takeover of Inamed in March, but last week Allergan (AGN Quote) 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. ...

<< Read Full Article

Recent Comments

Loading .....




Dow Jones S&P 500 NASDAQ 10-Year Note
10,388.90 1,105.98 2,194.35 34.83
Oil *
77.74
UP
22.75
UP
6.06
UP
21.21
UP
1.03
10 Yr
3.48%
SPDR Gold
113.75
+0.22%
+0.55%
+0.98%
+3.05%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services