Q-Med Board Endorses Galderma's Sweetened Bid

Law360, New York (February 10, 2011, 3:52 PM EST) -- Q-Med AB's board of directors is urging reluctant shareholders to accept Galderma Pharma SA's latest takeover bid, which the skin care company has boosted from $978 million to $1.2 billion in an attempt to woo the implant maker.

Q-Med's board issued a statement Thursday saying it unanimously recommended Galderma's 79 kronor ($12.22) per share bid, adding that the offer is “fair from a financial point of view for the shareholders in Q-Med.”

The offer comes just after Galderma said Tuesday that it lacked interest among Q-Med...
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