6/26/2009 9:04:22 AM
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Zila, Inc. (Nasdaq:ZILA) today announced that it has entered into a definitive merger agreement with Tolmar Holding, Inc., a privately held, pharmaceutical research, development, manufacturing and commercial operations company. Under terms of the agreement, Tolmar will acquire all of the outstanding shares of Zila for a cash purchase price of $0.38 per share, representing an approximate premium of 18% over the closing price of Zila’s shares on June 24, 2009. Total consideration paid by Tolmar includes the purchase of Zila’s existing $12 million senior secured convertible debt at a discount.
comments powered by