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TMCNet:  Velcera, Inc. Signs Definitive Agreement to be Acquired by Perrigo Company for $160 Million in Cash

[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.

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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


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