Thermage's unsolicited bidder retracts offer

By Associated Press
September 15, 2008 | Comments (0)

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Thermage Inc., which makes an anti-aging skin tightening device, on Monday said an unnamed bidder retracted its $132.3 million buyout offer.

Thermage had already rejected the bid, which amounted to $5.50 per share, earlier this month. That offer was made Aug. 21 and represented an 82 percent premium from Thermage's prior-day stock closing price.

Thermage reaffirmed its plan to buy Mountain View, Calif.-based Reliant Technologies Inc. for $87.5 million in a cash and stock deal. That deal was announced July 7 and is expected to close in the fourth quarter.

Thermage shares closed at $3.70 on Friday.

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