Acquisition of Adams Respiratory Therapeutics by Reckitt Benckiser completed

By Lisa Kerner

Charlotte, N.C., Jan. 29 - Adams Respiratory Therapeutics, Inc. became an indirect wholly owned subsidiary of Reckitt Benckiser Group plc following the closing of the companies' merger agreement.

Reckitt Benckiser subsidiary Twickenham Inc. merged with and into Adams Respiratory, with Adams Respiratory as the surviving corporation, according to a form 8-K filing with the Securities and Exchange Commission.

Outstanding shares of Adams Respiratory common stock that were not tendered in the previously announced tender offer will be converted into the right to receive $60 in cash per share, the filing stated.

It was previously reported that Twickenham accepted for payment a total of 34,623,895, or 95.9%, of Adams Respiratory's outstanding shares in the offer.

The tender offer began Dec. 21 and was valued at some $2.3 billion.

Adams Respiratory 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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