Indian public company Plethico sought to expand into the US market through the acquisition of a highly regarded, well-established brand and was advised by Bryan, Garnier & Co on the acquisition of Nasdaq-listed Natrol, Inc.
Plethico Pharmaceuticals Limited (BSE: 532739/BO: PLETHICO) is an herbal/nutraceutical-focused Indian company that engages in the manufacture, marketing and distribution of pharmaceutical and allied healthcare products in India and internationally. It operates in the Commonwealth of Independent States (CIS), Africa, South East Asia, Latin America and certain gulf countries. Plethico was founded in 1991 and has its corporate office in Mumbai, India.
The two-step acquisition was effected by means of a front-end, cash tender offer by a wholly owned subsidiary of Plethico for all of the outstanding shares of Natrol’s common stock, at USD4.40 net per share in cash, followed by a second-step, cash-out merger in which untendered Natrol shares were acquired at the same net cash price per share.
All Natrol stock options received cash equal to the excess, if any, of USD4.40 over their exercise price.