Forbes, Pharmachem Laboratories Inc. deal

Forbes said supplement company Pharmachem increased its offer to acquire substantially all Forbes' assets to $4 million from $2.9 million in cash. Pharmachem previously raised its offer to $2.9 million from $1.9 million on Aug. 6. 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 continues to be superior (see BioCentury, Aug. 16). ...