PROC - Procaps terminates merger with Grupo Somar
- Procaps ( NASDAQ: PROC ) said Tuesday that it terminated its previously-reported agreement to acquire Grupo Somar.
- The closing of the acquisition of Grupo Somar was delayed indefinitely after the company was informed by the sellers that a court in Mexico City issued an "Embargo Precautorio" affecting certain shares of capital stock of Grupo Somar.
- Procaps said it remains open to discussing alternatives with the sellers but cannot provide any assurances regarding whether an acquisition of Grupo Somar by the company will occur in the future.
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Procaps terminates merger with Grupo Somar