ARTICLE | Company News

Forbes, Marco Hi-Tech JV LLC deal

August 9, 2010 7:00 AM UTC

Forbes said supplement company Marco Hi-Tech increased its offer to acquire substantially all Forbes' assets to $1.8 million in cash from $1.4 million, plus inventory adjustments. The move comes after supplement company Pharmachem Laboratories Inc. (Kearny, N.J.) offered $1.9 million in cash to acquire Forbes' assets last month. Forbes has the right to consider and accept a superior offer, and Marco Hi-Tech has the right to match any superior offer. The board of Forbes said it supports the Marco Hi-Tech offer and recommends shareholders approve the deal. ...