Plethico completes Natrol acquisition

MUMBAI: Plethico Pharmaceuticals subsidiary, Nutra Acquisition has completed by tender offer the acquisition of Natrol in accordance with the merger agreement announced last month.

Nearly 92 per cent of the outstanding shares of Natrol were tendered and accepted for payment in the tender offer on December 27. Nutra Acquisition successfully acquired in the tender offer a number of Natrol shares sufficient to permit it to effect a short-form merger.

In the merger, all outstanding shares of Natrol were converted into the right to receive $4.40 per share in cash. Plethico Pharma shares today closed at Rs 457.60 on BSE, up 1.27 per cent.