Mexican pharmaceutical products company Genomma Lab said on Tuesday it is offering to purchase Prestige Brands Holdings Inc , which makes healthcare and household cleaning products. Genomma said it is offering to pay $16.60 per share for Prestige in an all-cash deal representing a premium of about 23 percent over Prestige's share price on Feb. 17.Genomma's shares had been suspended from trading in Mexico since early Monday, pending news.
Prestige Brands Holdings, Inc. (Prestige) is a holding company that, together with its subsidiaries, is engaged in the marketing, sales and distribution of brand name Over-the-Counter (OTC) Healthcare and Household Cleaning products to mass merchandisers, drug stores, supermarkets and dollar and club stores primarily in the United States and Canada. Shares of PBH remained unchanged at $13.50. In the past year, the shares have traded as low as $8.15 and as high as $13.72. On average, 260816 shares of PBH exchange hands on a given day and today's volume is recorded at 139079.
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