Printer Friendly

PERRIGO ANNOUNCES FILING OF REGISTRATION STATEMENT FOR INITIAL PUBLIC OFFERING

            PERRIGO ANNOUNCES FILING OF REGISTRATION STATEMENT
                      FOR INITIAL PUBLIC OFFERING
    ALLEGAN, Mich., Nov. 11 /PRNewswire/ --Perrigo Company has announced that it filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of 8,000,000 shares of common stock, which includes 986,981 shares being sold by non-management selling shareholders.
    The offering price is expected to be between $14 and $16 a share. Morgan Stanley & Co. Incorporated and J.P. Morgan Securities Inc. will co-manage the underwriting group.  The company has granted the underwriters an over-allotment option for up to 1,200,000 additional shares.
    The net proceeds to the company from the sale of the common stock will be used to repay indebtedness incurred in connection with the acquisition of Cumberland-Swan, Inc. and other indebtedness.
    Perrigo Company is the nation's largest manufacturer of over-the- counter (non-prescription) pharmaceuticals and personal care products for the store brand market.  Store brand products are sold under a retailer's own label and compete with nationally advertised brand name products.  The company's customers are major national and regional retail drug, supermarket and mass merchandise chains and major wholesalers.  The company's products include over-the-counter pharmaceuticals (such as analgesics, cough and cold remedies, antacids, laxatives, suppositories and diet products), personal care products (such as toothpaste and mouthwash, hair care products, deodorants and antiperspirants, baby care products, and skin care and sun care products) and vitamins.
    The company also announced that it has entered into a definitive agreement to acquire Cumberland-Swan, Inc. a major manufacturer of store brand products.  The acquisition, which is currently scheduled to close in December 1991, offers the company the opportunity to expand its product line with complementary products, to add strategically located facilities for the manufacture and distribution of its products, to expand the marketing of its products to new customers under Cumberland's "Swan" brand and to achieve cost efficiencies through the consolidation of certain operations.
    A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
    -0-        11/11/91
    /CONTACT:  M. James (Jim) Gunberg, executive vice president-finance, treasurer and chief financial officer of Perrigo Company, 616-673-8451/ CO:  Perrigo Company ST:  Michigan IN:  MTC SU:  OFR SM -- NY072 -- 3176 11/11/91 17:02 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 11, 1991
Words:455
Previous Article:INSTEEL INDUSTRIES ELECTS NEW DIRECTOR
Next Article:ORTHOMET, INC. ADDS DIRECTOR
Topics:


Related Articles
INITIAL PUBLIC OFFERING OF 8 MILLION SHARES OF PERRIGO COMPANY AT $16 PER SHARE
WATSON PHARMACEUTICALS ANNOUNCES FILING OF REGISTRATION STATEMENT FOR INITIAL PUBLIC OFFERING
PERRIGO COMPANY ANNOUNCES FILING OF REGISTRATION STATEMENT FOR PUBLIC OFFERING OF COMMON STOCK
5 MILLION SHARES OF PERRIGO COMPANY STOCK OFFERED AT $32 PER SHARE
13 MILLION SHARES OF PERRIGO COMPANY STOCK OFFERED AT $31 PER SHARE
PERRIGO COMPANY NAMES CFO
Perrigo Company Receives FDA Approval To Manufacture and Market Two New Products.
Perrigo Company Becomes First Company Worldwide to Earn NSF Registration for Nutritional Supplement Manufacturing Facilities.
NSF Certifies the Perrigo Good Sense(R) Products.
Andrx and Perrigo Announce Agreement to Market Loratadine Products.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters