MONTERREY (Reuters) – the Mexican pharmaceutical Genomma

Lab said on Thursday that will insist on its proposal to buy at

the American company Prestige Brands, in an operation that

could even be made through a hostile offer.

Genomma said that he intends to nominate five

independent candidates as members of the Council of

Administration of Prestige, then that it rejected his proposal

to acquire the company from consumer products.

“The sole purpose of Genomma to seek nominations

“

is to advance in its inadequate, highly conditional proposal and

“

seek to acquire Prestige at the lowest possible price”, said

Prestige in a statement.

The American, to held a shareholders Assembly

Next June 29, said it will evaluate the notification of

according to the statutes of the company and the legislation

force, to make a recommendation on the subject to their

shareholders.

Genomma announced in February its intention to buy the

actions of Prestige at 16.60 dollars per title, in one

operation valued at 834 million dollars, excluding debt.

Some analysts consider that the Mexican, possessing a

100 shares of Prestige, could raise the price of its offer,

but others argue that even a hostile bid could spear

to comply with its international expansion plans.

“99 Percent of the shares of Prestige are public and

“

Genomma is talking to minority shareholders in search of

support, we believe that the company will remain standing fight perhaps to

“

through a hostile bid”, said Paola Sotelo, analyst of the

broker Monex in the city of Mexico.

Prestige, which marketed products as Pedia Care and

Comet, has said that the offer of Genomma is opportunistic and not

recognizes the value of the recent acquisition of brands than the

American company shape with GlaxoSmithKline for

about $ 615 million.

Genomma Meanwhile invited its shareholders to a

Assembly for next March 29, which prompted his

approval for the purchase of Prestige and the procedures for

funding for the operation.

The actions of Genomma Lab closed on Thursday with a rise

2.47 per cent in the bolsa mexicana, priced at 25.28

pesos.