Genomma Bids $834M For Prestige Brands

Law360, New York (February 21, 2012, 3:53 PM EST) -- Mexican pharmaceutical and personal care company Genomma Lab Internacional SAB de CV has offered to acquire health care and household products company Prestige Brands Holdings Inc. for about $834 million, Genomma announced Tuesday.

Genomma made the bid to acquire Prestige for $16.60 per share public the same day it sent a proposal letter to Prestige CEO Matthew M. Mannelly, the company said in a statement. 

The all-cash proposal constitutes a premium of 23 percent over Irvington, N.Y.-based Prestige's closing stock price on Feb. 17 and a...
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