Gregory S. Weishar
Omnicare's top management decided private negotiations with their counterparts at takeover target PharMerica were not working. So on Tuesday, Omnicare went public with an announced $15 per share bid for the company. The proposed deal would involve the No. 1 institutional pharmacy provider purchasing the No. 2 for $715 million, according to an Omnicare announcement.
So this is what it comes to when No. 1 attempts to buy No. 2. This could be some pretty lively theater by the time the final curtain drops.