FTC wants more info on Omnicare's bid for PharMerica

The Federal Trade Commission is asking Omnicare Inc. to provide more details of its proposal to acquire PharMerica Corp.

On Aug. 23, Covington-based Omnicare (NYSE: OCR) offered to purchase all of the outstanding shares of PharMerica (NYSE: PMC) for $15 per share in cash. Officials at Louisville-based PharMerica have repeatedly rejected the offer, citing concerns that the bid undervalues the company and that an acquisition would face steep regulatory hurdles.

?The PharMerica board of directors is unanimous in its well-informed belief that Omnicare?s offer is lacking in both price and certainty of closing,? Gregory Weishar, PharMerica?s CEO, said in a news release this week...

Source: http://feeds.bizjournals.com/~r/bizj_cincinnati/~3/Hflaa4VOFAY/ftc-wants-more-info-on-omnicares-bid.html

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