Market Overview

UPDATE: Genomma Lab Will Proceed to Terminate Financing for Prestige Brands Deal

Genomma Lab Internacional, S.A.B. de C.V. ("Genomma") (BMV: LAB.B.) announced today that it has decided to no longer pursue the proposed acquisition of all of the outstanding shares of Prestige Brands Holdings, Inc. ("Prestige") (NYSE: PBH) common stock for $16.60 per share in cash. Since Genomma's initial proposal to Prestige on February 21, 2012, Genomma satisfied Prestige's conditions by: o Given Genomma's financial strength, it obtained the COMMITTED FINANCING of approximately US$2.2 BILLION, subject to customary conditions, to finance the transaction. These commitments were filed to the Securities and Exchange Commission ("SEC") and to the Comision Nacional Bancaria de Valores ("CNBV")

Posted-In: News Financing M&A

 

Related Articles (PBH)

Around the Web, We're Loving...

Get Benzinga's Newsletters