Robins Isn’t Interested in Bid for Unit
RICHMOND, Va. — A. H. Robins Co. on Wednesday said it was uninterested in an unsolicited $840-million offer by Merrell Dow Pharmaceuticals to purchase Robins’ consumer health-care product lines.
The cash offer was for Robins’ U.S. Consumer Health Care operations, which markets such products as ChapStick, Robitussin cough syrup and Dimetapp cough suppressant.
Robins last month filed a reorganization plan in its 20-month-old Chapter 11 bankruptcy case, which was prompted by damage suits filed by the thousands of women claiming injuries from use of the Dalkon Shield intrauterine device.
The pharmaceutical firm has conducted unsuccessful buyout talks with at least two suitors, but Robins spokesman Roscoe Puckett said the Merrell Dow offer was unsolicited.
The company “has no interest in selling major segments of its operations and intends to continue to pursue its Chapter 11 reorganization under the plan filed in U.S. Bankruptcy Court on April 16,†he said.
William Donaldson, a Merrell Dow spokesman, said: “We hope Robins will give further consideration to our offer and take us up on our offer to meet and discuss this proposal.â€
He said the offer from Cincinnati-based Merrell Dow, a subsidiary of Dow Chemical, will stand until May 19.
In a related development, A federal judge has given a second chance to more than 150,000 Dalkon Shield injury claimants who failed to respond to a court-ordered questionnaire.
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