SALT LAKE CITY--(BUSINESS WIRE)--USANA Health Sciences, Inc. (NASDAQ: USNA) today announced that the Special Committee of its Board of Directors has unanimously determined that the tender offer announced on June 2, 2008 by Unity Acquisition Corp. and certain shareholders of USANA, including Myron W. Wentz, Ph.D., USANA’s Chairman and Chief Executive Officer, and David A. Wentz, USANA’s President, is inadequate and not in the best interests of USANA’s shareholders.
The Special Committee made its determination after carefully considering the tender offer, the prospects and value of USANA, the fact that the Special Committee received an opinion from its financial advisor setting forth the position that the offer price was inadequate from a financial point of view, and other relevant facts and information set forth in an amendment to the Solicitation/Recommendation Statement on Schedule 14D-9/A, filed with the Securities and Exchange Commission (the “SEC”) on June 20, 2008.
The Special Committee unanimously recommends, on behalf of the Company, that the shareholders reject the tender offer and not tender their shares. If shareholders have previously tendered shares and wish to withdraw such shares, they should contact their broker or American Stock Transfer & Trust Company, the depository for the tender offer.
The Special Committee encourages USANA shareholders to review the amendment on Schedule 14D-9/A in its entirety, which is being mailed to the shareholders and filed with the SEC, because it contains important information, including the inadequacy opinion by the Special Committee’s financial advisor. Shareholders can obtain a free copy of the amendment on Schedule 14D-9/A or other documents filed by USANA with respect to the tender offer, at www.sec.gov.