Plethico Pharmaceuticals Ltd on January 02, 2008 has announced that it has completed its acquisition of Natrol, Inc. The acquisition was completed in accordance with the merger agreement announced last month among Plethico, Nutra Acquisition Company, Inc. (MergerSub), a wholly owned subsidiary of Plethico, and Natrol, by means of the merger of Natrol with Merger Sub following a successful tender offer for Natrols common shares.
Shashikant Patel, Chairman & Managing Director of Plethico, commented: We are pleased to announce the successful completion of Plethicos acquisition of Natrol, and we are excited with the opportunity this acquisition represents for Plethico.
Approximately 92% of the outstanding shares of Natrol common stock were tendered and accepted for payment in MergerSubs tender offer, which expired at 5:00 pm, New York City time, on December 27, 2007. MergerSub successfully acquired in the tender offer a number of Natrol shares sufficient to permit MergerSub to effect a short-form merger of MergerSub into Natrol under Delaware law without the vote of or any other action by the remaining Natrol stockho1ders. In the merger, all outstanding shares of Natrol common stock were converted into the right to receive $4.40 net per share in cash, without interest thereon and less any required withholding taxes (the same price as the offer price in MergerSubs tender offer).
Shashikant Patel, Chairman & Managing Director of Plethico, commented: We are pleased to announce the successful completion of Plethicos acquisition of Natrol, and we are excited with the opportunity this acquisition represents for Plethico.
Approximately 92% of the outstanding shares of Natrol common stock were tendered and accepted for payment in MergerSubs tender offer, which expired at 5:00 pm, New York City time, on December 27, 2007. MergerSub successfully acquired in the tender offer a number of Natrol shares sufficient to permit MergerSub to effect a short-form merger of MergerSub into Natrol under Delaware law without the vote of or any other action by the remaining Natrol stockho1ders. In the merger, all outstanding shares of Natrol common stock were converted into the right to receive $4.40 net per share in cash, without interest thereon and less any required withholding taxes (the same price as the offer price in MergerSubs tender offer).
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