Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
SALT LAKE CITY (AP) -- The chief of USANA Health Sciences Inc. is offering to take the vitamin company private by paying $26 per share, a 25-percent premium.
Myron Wentz already controls about 68 percent of the Utah company's stock. He made the offer Tuesday through his investment group, Gull Holdings Inc.
USANA's stock closed just under $21 per share Monday. Shares jumped by more than $5 to $26.35 after his offer Tuesday.
Wentz says going private will provide cost savings and will allow USANA's management to focus on business. USANA stock was trading at $61 in 2007.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
