ARTICLE | Company News

Forbes, Marco Hi-Tech, Pharmachem Laboratories deal

August 16, 2010 7:00 AM UTC

Forbes said supplement company Pharmachem increased its offer to acquire substantially all Forbes' assets to $2.9 million from $1.9 million in cash. The move follows an increased offer earlier this month by Marco Hi-Tech JV LLC (New York, N.Y.) of $1.8 million in cash, plus inventory adjustments. Forbes' board concluded Pharmachem's offer is superior. Marco Hi-Tech has a right to make an additional offer within five business days of Aug. 9 (see BioCentury, Aug. 9). ...