Galderma's $978M Bid Falls Short With Q-Med Investors

Law360, New York (February 8, 2011, 5:59 PM EST) -- Skin care company Galderma Pharma SA said Tuesday that it lacked interest among shareholders of Q-Med AB to complete its proposed $978 million takeover of the implant maker.

Just 54 percent of Sweden-based Q-Med's shareholders accepted the $11.70 (75 kronor) per share bid, far below the 90 percent threshold Galderma said was required, company said, adding it would announce its next move on Feb. 10.

Q-Med issued a statement dated Monday, saying there was no interest from other potential buyers. Q-Med also said the statement was...
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