Germany's Merz Pharma Group withdrew its offer for U.S. cosmetic products maker Obagi Medical Products Inc, after rival bidder Canada's Valeant Pharmaceuticals International Inc raised its offer last week. Merz had offered $22 a share, which was topped by Valeant with a $24-a-share offer on April 3.
Obagi Medical Products, Inc. (Obagi) is a specialty pharmaceutical company that develops, markets and sells, and is a provider of, topical aesthetic and therapeutic prescription-strength skin care systems and related products in the physician-dispensed market. Shares of OMPI remained unchanged at $25.42. In the past year, the shares have traded as low as $10.70 and as high as $25.60. On average, 516460 shares of OMPI exchange hands on a given day and today's volume is recorded at 498.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX remained unchanged at $71.79. In the past year, the shares have traded as low as $42.47 and as high as $76.56. On average, 1383100 shares of VRX exchange hands on a given day and today's volume is recorded at 0.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX fell by 0.76% or $-0.56/share to $72.98. In the past year, the shares have traded as low as $43.99 and as high as $77.66. On average, 441100 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 0.
Source