As per the terms of the merger agreement, Carlyle is expected to acquire all of the outstanding common shares of NBTY for $55 per share in cash, representing a premium of approximately 57% over NBTY’s average closing share price during the 30 trading days ended July 14, 2010.
The board of directors of NBTY has unanimously approved the merger agreement and recommended that NBTY’s stockholders adopt the agreement with Carlyle.
Scott Rudolph, chairman and CEO of NBTY, said: “This transaction delivers exceptional value to our shareholders. For our wholesale and retail customers, our commitment to quality and innovation will continue to be our focus. We will leverage Carlyle’s global resources and consumer sector knowledge to further drive the Company’s global growth.”
Sandra Horbach, managing director and head of the consumer and retail sector team at Carlyle, said: “We are impressed with the business that has been built under the leadership of Scott Rudolph, and are excited to work with him and the senior management team to drive continued growth.”