Forbes, Marco Hi-Tech JV LLC, Pharmachem Laboratories Inc. deal

Forbes said shareholders approved an offer from supplement company Pharmachem to acquire substantially all Forbes' assets for $4 million in cash. Forbes also terminated the offer from Marco Hi-Tech to acquire substantially all Forbes' assets for $1.8 million in cash after the company declined to match Pharmachem's offer. Forbes will pay Marco Hi-Tech a termination fee of $200,000 (see BioCentury, Aug. 23). ...