Market Overview

PharMerica Comments on Omnicare's Decision to Allow Its Unsolicited Tender Offer to Expire

PharMerica Corporation (NYSE: PMC) today commented on the decision by Omnicare (NYSE: OCR) to allow its unsolicited tender offer to expire.

“We are pleased with Omnicare's decision to allow its tender offer to expire,” said Gregory S. Weishar, PharMerica Chief Executive Officer. “The PharMerica Board of Directors was unanimous in its belief that Omnicare's offer substantially undervalued PharMerica and was illusory due to the significant antitrust concerns. PharMerica has continued to perform well, as exemplified by our strong fourth quarter earnings, and we are well positioned for further growth as the wave of generic drug conversions continues to accelerate. We remain focused on executing our strategic plan and exceeding our customers' expectations as we work to deliver compelling value to PharMerica stockholders.”

Posted-In: News M&A

 

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