NEW YORK (Thomson Financial) - Barrier Therapeutics Inc. Monday said it has
agreed to be purchased by privately-held Stiefel Laboratories Inc. in a deal
valued at $148 million.
Under the terms of the agreement, Stiefel will buy shares of Barrier for
$4.15 a share, which represents a premium of 73% to the company's average
closing price over the past 30 days.
The deal is expected to close by the end of the third quarter and will take
the form of a tender offer followed by a merger of Barrier into a wholly-owned
unit of Stiefel.
Shares of Barrier closed Friday at $1.76.
Ryan Vlastelica
rv/vj
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