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    Spencer Pharmaceutical Announces That the Unsolicited All-Cash Buyout Offer at a Premium of $0.97 Per Share

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    OTC Penny Stocks With News SPPH

    spph,otcNov 11th, 2010 Boca Raton, FL–TheStockwizards.net analyzes the most notable explosive OTC, OTCBB, NASDAQ Micro Cap Penny Stocks in the news. OTC Small cap penny stocks includes:  OTC:  SPPH

    Spencer Pharmaceutical Inc. (SPPH.PK)

    BOSTON, MA–Spencer Pharmaceutical Inc. (Pinksheets:SPPHNews) announced today that an unsolicited offer received on November 4, 2010 is at a premium of $0.97 per share, making the potential transaction valued at $245 million.

    According to the buyout offer documents, the purchaser is requiring any and all shares be tendered for a purchase price of $0.97 per share and with the intent to privatize the company. Spencer Pharmaceutical has opted to continue to keep the purchaser’s name confidential until such time as a timeline can be presented and the approval of the board of directors can be obtained.

    “We will conduct our own due-diligence of the purchaser but so far they have assured us of their seriousness and have marked this acquisition as important in terms of strategy but not in-terms of value,” said Dr. Max Arella, President of Spencer Pharmaceutical Inc. “We will continue with business as usual but this will also be one of our priorities,” further added Dr. Arella.

    About Spencer Pharmaceutical Inc.

    Spencer Pharmaceutical Inc. is a US-based Pharmaceutical Research and Development Corporation, which is developing innovative drug release and absorption systems for the treatment of metabolic diseases such as diabetes and metabolic syndrome.

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    November 11, 2010 @ 2:38 pm Trackback URL Posted in Industry News and tagged with , , , .