Genomma Abandons $834M Prestige Brands Bid

Law360, New York (May 3, 2012, 5:31 PM EDT) -- Mexican health care company Genomma Lab Internacional SAB de CV is walking away from its $834 million bid for Prestige Brands Holdings Inc. after Prestige demanded a "significant increase" in the offer price, according to a public filing Thursday.

Genomma, which makes over-the-counter health products, said Prestige's executives refused to meet with Genomma representatives and on Wednesday evening demanded that the company raise its offer before negotiations could begin. Prestige, which makes Clear Eyes-brand eyedrops and other personal care brands, had already rejected the offer twice....
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