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Will Omnicare Inc. up the ante in its $1.5 billion hostile takeover bid for NeighborCare Inc., a Baltimore-based rival?
That's what the market expects, given that NeighborCare's stock has been trading above Omnicare's $30-per-share takeover price. NeighborCare closed at $30.43 on June 9, five days after Omnicare CEO Joel Gemunder said the company would take its $30 per share offer directly to NeighborCare shareholders, NeighborCare's board had rejected two previous takeover proposals, but it hadn't responded to Omnicare's latest, attempt as of press time.
The deal would make Omnicare a dominant...