Obagi Medical (OMPI) falls before the bell after German drug maker Merz says it will not up the...

|About: Obagi Medical Products, Inc. (OMPI)|By:, SA News Editor

Obagi Medical (OMPI) falls before the bell after German drug maker Merz says it will not up the ante on Valeant Pharmaceuticals (VRX) in what was set to become a bidding war for OMPI. Merz, which called itself "a disciplined buyer" this morning, topped Valeant's original $19 per share offer last week, but will now yield to Valeant's sweetened offer of $24. OMPI shares -5.6% premarket.