Cardinal/R.P. Scherer merger
Executive Summary
R. P. Scherer President George Fotiades and Senior VP-Corporate Planning & Development Thomas Stuart will receive retention bonuses of $500,000 and $300,000, respectively, after the merger with the wholesaler Cardinal is consummated, according to the companies' S-4 registration statement. R.P. Scherer shareholders will meet Aug. 6 to vote on the merger. Cardinal shareholders will meet July 28. The waiting period for the merger under the Hart-Scott-Rodino Act expired June 21. A one-month initial waiting period began in Germany June 17. The transaction values Scherer at about $2.4 bil. ("The Pink Sheet" May 25, p. 3)