Post by miamianne67 on Mar 21, 2017 21:07:43 GMT
JUST SAYIN' Opko's moves pretty typical of Frost's history
Sale May Make Millions For Key Founders Key Pharmaceuticals And Schering-plough Stockholders Vote Today On Deal.
June 26, 1986|By Susan Postlewaite, United Press International
MIAMI -- Key Pharmaceuticals Chairman Phillip Frost could become a millionaire more than 100 times over from the sale of his stock to Schering- Plough Corp. if shareholders today approve a takeover by the large New Jersey drug company.
A proxy statement discloses that Schering-Plough would receive options to buy out both Frost, 49, and Michael Jaharis, 57, who is Key`s chief executive officer, at $17 a share.
At that price, Frost, a dermatologist who owns 6.4 million shares, stands to pocket as much as $108 million if Schering-Plough exercised the options.
Jaharis owns 5.2 million shares and could get $89 million.
The two Floridians were dropped from the Forbes magazine list of the nation`s 400 wealthiest individuals last year when Key`s stock dipped as low as $7.12 a share in the fourth quarter.....
Sale May Make Millions For Key Founders Key Pharmaceuticals And Schering-plough Stockholders Vote Today On Deal.
June 26, 1986|By Susan Postlewaite, United Press International
MIAMI -- Key Pharmaceuticals Chairman Phillip Frost could become a millionaire more than 100 times over from the sale of his stock to Schering- Plough Corp. if shareholders today approve a takeover by the large New Jersey drug company.
A proxy statement discloses that Schering-Plough would receive options to buy out both Frost, 49, and Michael Jaharis, 57, who is Key`s chief executive officer, at $17 a share.
At that price, Frost, a dermatologist who owns 6.4 million shares, stands to pocket as much as $108 million if Schering-Plough exercised the options.
Jaharis owns 5.2 million shares and could get $89 million.
The two Floridians were dropped from the Forbes magazine list of the nation`s 400 wealthiest individuals last year when Key`s stock dipped as low as $7.12 a share in the fourth quarter.....