Obagi Medical Products, Inc.NASDAQ
OMPI is defunct.
  • Apr. 8, 2013, 8:18 AM

    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.

    | Apr. 8, 2013, 8:18 AM
  • Apr. 3, 2013, 8:12 AM

    Bidding war on: Valeant Pharmaceuticals (VRX) increases its offer for Obagi Medical (OMPI) to $24 a share in cash, a day after Merz Pharmaceuticals proposed $22. That bid had trumped Valeant's original offer of $19.75. Obagi has accepted Valeant's new proposal, which has sent the former's shares up 8.4% to $24.80.

    | Apr. 3, 2013, 8:12 AM
  • Apr. 2, 2013, 8:12 AM

    Merz Pharmaceuticals offers $22 a share for Obagi (OMPI) and trumps Valeant's (VRX) bid of $19.75 , which valued Obagi at $360M. Merz says it has the money to pay for the deal and doesn't need to carry out further due diligence, as it was already in talks to buy Obagi when the Valeant deal was announced. Obagi surges 15.2% to $22.70.

    | Apr. 2, 2013, 8:12 AM | 2 Comments
  • Mar. 21, 2013, 2:20 PM

    Cantor Fitzgerald says it's lowering its rating on Obagi Medical Products (OMPI +0.2%) from Buy to Hold on the back of yesterday's merger announcement with Valeant Pharmaceuticals (VRX +0.2%). Cantor says the deal is generally in line with other historical deals in the dermatology space, and after speaking with management it believes the deal has been fully shopped and there aren't likely to be any competing bids.

    | Mar. 21, 2013, 2:20 PM
  • Mar. 20, 2013, 8:13 AM

    Valeant Pharmaceuticals (VRX) has agreed to acquire Obagi Medical Products (OMPI) for $360M, with the $19.75/share offer representing a 42% premium to Obagi's closing price on Thursday last week, a day before it released its 2012 earnings results. (PR)

    | Mar. 20, 2013, 8:13 AM
  • Mar. 15, 2013, 11:39 AM

    Obagi Medical (OMPI +7.7%) moves up today after topping Q4 estimates late yesterday. Looking forward, the company sees FY13 earnings of $0.80 to $0.84 per share on $126M to $130M. The Street is at $0.88 per share and $128.31M in revenue. Cantor Fitzgerald upgraded the shares to Buy on the back of the report and raised its price target from $15.00 to $19.00, noting a 50% probability of a takeout in the $21 range.

    | Mar. 15, 2013, 11:39 AM | 1 Comment