Omnicare's Chief Financial Officer John Workman has been appointed as the company's interim chief executive officer following the resignation of John Figueroa as CEO.
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.