|
| [February 01, 2013] |
 |
Velcera, Inc. Signs Definitive Agreement to be Acquired by Perrigo Company for $160 Million in Cash
YARDLEY, Pa. --(Business Wire)--
Velcera, a privately-held, developer, manufacturer and marketer of OTC
companion animal healthcare products, announced today that it has signed
a definitive agreement to be acquired by the Perrigo Company (Nasdaq:
PRGO;TASE) for $160 million in cash. The acquisition is expected to
close during calendar year 2013 pending the satisfaction of closing
conditions, including regulatory approvals. Subject to conditions at the
time of closing and based upon current company assumptions, shareholders
of Velcera common stock will be entitled to receive approximately $0.40
per share upon consummation of the transaction before allowance for an
escrow holdback.
Dennis Steadman, President and CEO, Velcera said, "The extraordinary
synergies between Velcera and Perrigo means that even more pet owners
can receive best-in-class pet health products, including PetArmor®, the
brand they know and trust to deliver veterinarian quality protection for
their pets."
About Velcera, Inc.
Velcera through its FidoPharm subsidiary is a leading companion pet
health product company committed to providing consumers with
best-in-class companion pet health products that contain the same active
ingredients as branded veterinary products, but at a significantly lower
cost. FidoPharm products, including PetArmor® flea & tick
preventive - which contains the same active ingredient as Frontline® Top
Spot® - are available at major retailer's nationwide, offering consumers
the benefits of convenience and cost savings to ensure the highest
quality care for their pets. FidoPharm is a subsidiary of Velcera
located in Yardley, Pa. www.PetArmor.com
[ Back To Financial Technology's Homepage ]
|
