Omnicare, Inc. (OCR)

[mlkrborn]

PharMerica Board unanimously rejects unsolicited conditional tender offer from Omnicare (OCR) (PMC) 14.39 -0.24 : PMC announced that its Board of Directors, after careful consideration with its independent financial and outside legal advisors, voted unanimously to reject the unsolicited tender offer made by Omnicare (OCR) to acquire PMC for $15.00 per share in cash. The Board determined that the offer undervalues PharMerica and is not in the best interests of PharMerica's stockholders. In addition to undervaluing PharMerica and its future prospects, the Board believes the offer is illusory because it is subject to significant regulatory and other uncertainty. The Board unanimously recommends that PharMerica stockholders reject Omnicare's offer and not tender their shares to Omnicare.