Minnetonka Stock Falls: The price of Minnetonka...
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Minnetonka Stock Falls: The price of Minnetonka Corp.’s shares fell sharply amid disappointment that no third party would emerge to challenge Chesebrough-Pond’s Inc.’s $376.2-million offer for the perfume manufacturer. Minnetonka, a Bloomington, Minn.-based company that makes Calvin Klein fragrances, agreed to be acquired by Chesebrough-Pond’s, a unit of Anglo-Dutch consumer goods conglomerate Unilver PLC. Minnetonka slumped $2.625, or 10.5% of its value, to close at $22.375 in heavy over-the-counter trading of more than 1 million shares.
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