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Neutrogena

This article was originally published in The Tan Sheet

Executive Summary

Announces Aug. 10 it is "engaged in discussions" to be acquired by a "substantially larger company." The specialty skin care products marketer did not identify its potential suitor and said that "no agreements have been reached, nor have the companies' respective boards approved any transaction." The statement was issued by Neutrogena following a surge in its stock price earlier in the day to correct a statement made by Chief Financial Officer Donald Schort that there was no news pending to explain the increase in trading. Following the announcement, Neutrogena's stock jumped to a closing price of 26-3/4 on Friday, Aug. 12, up 5-1/8, from 21-5/8 prior to the announcement
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