ProPhase Labs Rejects $1.60 Proposal from Matrixx
ProPhase Labs, Inc. (NASDAQ: PRPH) (www.ProPhaseLabs.com) announced today that it has rejected the revised and unsolicited, non-binding proposal from Matrixx Initiatives, Inc. ("Matrixx") to acquire the Company for $1.60 per share in cash. This most recent proposal, like their prior $1.40 per share proposal, is conditioned on further due diligence by Matrixx. Matrixx is the owner of the Zicam(R) brand of cold and allergy products and is a direct competitor to ProPhase's Cold-EEZE(R) Cold Remedy product line.
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