Inamed looks into offer
This article was originally published in The Gray Sheet
Executive Summary
To prevent Allergan's revised merger offer from being voided, Inamed's board of directors has publicly determined that the offer constitutes a superior proposal "when compared to the terms of the currently pending merger with Medicis" and that the deal is "fair to the Inamed stockholders," the firm announced Dec. 6. Inamed has until Dec. 13 to publicly withdraw its recommendation of the Medicis merger agreement and until Dec. 31 to finalize the deal with Allergan. CIBC World Markets analyst John Calcagnini has speculated that Medicis may sweeten its bid for Inamed in time for the Dec. 19 shareholder proxy vote (1"The Gray Sheet" Nov. 28, 2005, p. 3). In a separate release, Inamed announced it has submitted the final module of its PMA for three formulations of the hyaluronic acid-based dermal filler - Juvederm 24 HV, 30 HV and 30...