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Duane Reade lowers sale price to $16.50 per share from $17.(reduction in share prices)(Brief article)

Drug Store News

| June 23, 2004 | COPYRIGHT 1989 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission. (Hide copyright information)Copyright

NEW YORK -- Duane Reade has agreed to lower its sale price to $16.50 per share from $17 per share, the Manhattan-based drug chain announced on Monday.

The deal is now worth about $403.8 million. The transaction is subject to, among other things, approval by Duane Reade's stockholders. A stockholders' meeting is scheduled for July 26.

As previously reported, Oak Hill had requested that the $17 per share …

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