Tuesday, May 29, 2007

Bradley Pharmaceuticals (BDY) CEO Offers to Acquire Company for $21.50/Sh

In a 13D filing this morning on Bradley Pharmaceuticals Inc. (NYSE: BDY), President and CEO Daniel Glassman submitted a proposal to acquire all of the outstanding equity at a cash purchase price of $21.50 per share.

Shares of BDY closed at $18.44 on Friday.

Bradley Pharmaceuticals confirmed the receipt of the bid and said they have formed a special committee to review the offer as well as other strategic alternatives.

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