Scherer Says Board To Discuss Buyout Offers
Apr. 28, 1989
TROY, Mich. (AP) _ The board of directors of R.P. Scherer Corp. has received several purchase offers, including one from a West German company that owns more than 5 percent of Scherer.
The board announced Thursday it would discuss all bids for the gelatin capsule maker, but declined to say how many have been received or what terms were being offered.
Scherer spokeswoman Jayne Colombo said the board could meet as early as today.
Colombo also said Deutsche Gelatine-Fabriken Stoess and Co., which owns more than 5 percent of Scherer, had filed papers with the Securities and Exchange Commission in Washington saying it had offered to buy the company.
Earlier this month, Scherer told shareholders it was seeking buyers. The letter said the company anticipated that a sale could be completed by the end of May or shortly afterward.
Former Scherer President Peter Fink quit the company in a battle with his estranged wife, Karla Scherer Fink, over its sale. He formed another company, Quantum Corp. of St. Clair Shores and has said he would try to buy Scherer.
Peter Fink and Quantum spokesman Frank Bredell were not available Thursday afternoon, said a woman who answered the Quantum telephone.