Merz Pharma Group announced Monday that it has withdrawn its non-binding proposal to acquire Obagi Medical Products (OMPI) for $22 per share in cash. Valeant Pharmaceuticals International (VRX) recently increased its offer to acquire Obagi from $19.75 to $24.00 per share in cash.
Obagi Medical Products gapped open sharply lower Monday, but moved in a narrow range throughout the session. The stock pulled back from the highs of the year and closed down by 1.44 at $23.98 on above average volume.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.