BTRX is Pick of the Day - Barrier Therapeutics, Inc. and Stiefel Laboratories, Inc. Sign Definitive Merger Agreement
Barrier Therapeutics, Inc. (”Barrier Therapeutics”) (Nasdaq:BTRX), a pharmaceutical company that develops and markets dermatology products, today announced that it has signed a definitive merger agreement with Stiefel Laboratories, Inc. (”Stiefel Laboratories”), the world’s largest independent pharmaceutical company specializing in dermatology. Under the agreement, Stiefel Laboratories will purchase all of the outstanding shares of Barrier Therapeutics at a price of $4.15 per share in cash, representing a 73% premium to Barrier Therapeutics’ average closing price for the past 30 days. The transaction, valued at approximately $148 million, is subject to the valid tender of a majority of Barrier Therapeutics’ fully diluted common stock, regulatory approvals and other customary conditions, but is not subject to any financing conditions. The parties expect the transaction to close by the end of the third quarter of 2008.
Full Release:
http://investor-forum.thesubway.com/small-cap-forum/showtopic.php?tid/1031/
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