24 June 2008

Shareholders Stand With Usana Buy Out Offer

Salt Lake Tribune
A group of shareholders of Usana Health Sciences has reaffirmed its offer to buy out the remaining shareholders of the health care products company even though the company rejected the $26-a-share bid as too low.

The group led by Usana founder and CEO Myron Wentz said Monday it was pressing ahead with its offer after viewing the company's preliminary second-quarter financial results released last week.

"Usana's earnings guidance further solidifies (the group's) confidence that the financial conditions related to the previously arranged financing for the transaction will be satisfied," Gull Holdings Ltd. and Unity Acquisition Corp. said in a statement.

On Wednesday, Salt Lake City-based Usana said it expects earnings per share to be between 60 cents and 63 cents when it reports second-quarter results next month.
Sales are expected to fall between $107 million and $109 million, Usana said.

Labels: ,


Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home