Reckitt Benckiser completes Adams offer

A cash tender offer for the remaining shares of common stock in Adams Respiratory Therapeutics has been completed by Reckitt Benckiser.

The 34,623,895 outstanding shares were not withdrawn and the offer expired at the end of January 23rd, the company announced.

Reckitt Benckiser accepted payment through its indirect subsidiary Twickenham and aims to consummate a merger on January 29th, after which time Adams will become a wholly-owned subsidiary of the company.

Remaining Adams stockholders are to receive a cash amount of $60 (30.29 pounds) per share as paid in the offer.

The announcement of the offer completion follows a definitive acquisition agreement confirmed in December for Adams.

Adams currently markets two products – Delsym, a cough suppressant, and adult expectorant Mucinex.