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Alpharma, Inc.
Alpharma Responds to Unsolicited Proposal by King Pharmaceuticals, Inc.
September 12th, 2008
Alpharma, Inc. (NYSE: ALO), a global specialty pharmaceutical company, confirmed that it received this morning an unsolicited, non-binding proposal from King Pharmaceuticals, Inc. (NYSE: KG) to acquire all of the outstanding shares of Alpharma for $33.00 per share in cash. Alpharma said's proposal was identical in all material respects to two prior proposals made privately by King to the company. Having thoroughly reviewed all relevant aspects of King's proposal in consultation with its financial and legal advisors, Banc of America Securities LLC and Simpson Thacher & Bartlett LLP, respectively, and in the context of the value Alpharma is creating, Alpharma's Board of...
Source: Health Business Week (2008-09-12)
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