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: The FRAUDfiles Blog

Usana Health Sciences buyout news

By Tracy Coenen

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This morning, it was announced that Usana founder and current chairman and CEO Myron Wentz offered to buy all outstanding stock of Usana Health Sciences (NASDAQ:USNA) at $26.00 per share. The closing price of the stock on May 12 was $20.83, so this represented almost a 25% premium.

The buyout would be made through Unity Acquisition Corp, an entity controlled by Gull Holdings. Gull Holdings is owned by Myron Wentz, and that entity (along with the ?other participants? in the buyout) owns 68% of Usana currently.

Experts speculated that the company might be taken private in order to prevent future scrutiny by the Securities and Exchange Commission. Indeed, the company says that going private will give them ?significant cost savings.?

Full post as published by The FRAUDfiles Blog on May 13, 2008 (boomark / email).

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