New Delhi, Jan 2 (UNI) To consolidate its position as a global player in herbal healthcare products, Plethico Pharmaceuticals Ltd today said it has completed the buyout of US-based Natrol Inc.
The company said in a statement that the purchase was closed in accordance with the merger agreement announced last month among Plethico, Nutra Acquisition Company, Inc (MergerSub), a wholly-owned subsidiary of Plethico, and Natrol.
''We are pleased to announce the successful completion of Plethico's acquisition of Natrol, and we are excited with the opportunity this acquisition represents for Plethico,'' company's Chairman and Managing Director Shashikant Patel said.
In the merger, all outstanding shares of Natrol common stock were converted into the right to receive 4.40 dollar net per share in cash, without interest thereon and less any required withholding taxes (the same price as the offer price in MergerSub's tender offer), the statement added.
Earlier, it was reported that Plethico Pharmaceuticals would acquire Natrol Inc for 80.7 million dollars.
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