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Lannett CEO and Chairman William Farber, 72, has agreed to sell the 13.5 million shares, equal to about 66 percent of the common stock, he and his wife own, and shares they have the right to acquire, to the third party for $14.56 per share plus contingent additional consideration, the Philadelphia-based company said. Farber is selling to diversify his holdings for estate planning purposes, the company said.

If it acquired the remainder of the outstanding shares of the company, the third party would pay a purchase price that is the higher of either the average closing stock price over the 10 trading days ended Feb. 5* or the total price paid per share to the Farbers, including any additional consideration, the company said.


*Should the acquiring entity decide to buy out the rest of us, my calculations say they would offer us $17.73 per share.

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