News Source: CNNMoney.com
"Nutritional supplement and skin care products company Usana Health Sciences said Tuesday its board of directors has formed an independent panel to evaluate a buyout offer from its chief executive and largest shareholder.Last Tuesday, investment firm Gull Holdings Ltd., which is controlled by Usana CEO Myron Wentz, offered to take the company private for $26 per share.
The committee has retained Morrison & Foerster LLP as a legal adviser and is also in the process of hiring a financial adviser.
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