Reckitt Benckiser begins tender offer for Adams Respiratory

By Lisa Kerner

Charlotte, N.C., Dec. 21 - Reckitt Benckiser Group plc began its $60-per-share tender offer for all of the outstanding shares of Adams Respiratory Therapeutics, Inc.

The offer is being made through Reckitt Benckiser's wholly owned subsidiary Twickenham Inc.

Adams Respiratory's board of directors recommended that holders of its common stock tender their shares in the offer, according to a company news release.

The total value of the offer, which ends Jan. 23, is approximately $2.3 billion.

It was previously reported that the merger will provide Reckitt Benckiser with entry into the U.S. over-the-counter drug market.

Adams is a specialty pharmaceutical company based in Chester, N.J.

Reckitt Benckiser is a household cleaning, health and personal care company based in Slough, England. The company's brands include Lysol, Electrasol, Woolite, Veet and Gaviscon.

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