Prestige Downplays Hostile Genomma Bid, Leaving Merger In Doubt
This article was originally published in The Tan Sheet
Executive Summary
Prestige Brands encourages shareholders not to act on Genomma Lab’s “highly conditional” unsolicited $834 million takeover bid. A merger would give Genomma access to the U.S. market and the Mexico City-based bidder said it would boost Prestige’s marketing and international presence. Analysts give the deal a 50/50 shot of happening.
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