Usana Health Sciences to consider CEO's going-private offer

By Lisa Kerner

Charlotte, N.C., May 20 - A special committee of Usana Health Sciences, Inc.'s board of directors will review a going-private offer from Gull Holdings, Ltd., which is controlled by Usana chairman and chief executive officer Myron W. Wentz, the company announced on Tuesday.

As previously reported, Wentz wants to take Usana private in a $26-per-share cash tender offer.

Morrison & Foerster LLP is acting as the special committee's legal adviser. No financial adviser has been named to assist with the evaluation, Usana noted.

Gull Holdings and the other participants in the offer currently own or control some 68% of Usana, a prior news release stated.

Usana is a nutritional and personal care products company located in Salt Lake City.

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