CIMA rejects Cephalon bid
Executive Summary
Cephalon's proposal to acquire CIMA at $26 per share does not represent a superior offer to CIMA's proposed merger with aaiPharma, CIMA says Sept. 2. Company received unsolicited takeover bid from Cephalon following announcement of proposed merger with aaiPharma; CIMA was prohibited from entering negotiations with Cephalon unless its board deemed the offer superior to merger plans (1"The Pink Sheet" Aug. 25, 2003, p. 17)...