Alpharma considers King's offer

Following King Pharmaceuticals' beefed-up bid, Alpharma's board is urging shareholders not to take any action until they have decided whether or not to accept. The board will make a recommendation to Alpharma's shareholders within 10 business days following the commencement of the tender offer. "No assurance can be given that the process being undertaken by the Board will result in the announcement or consummation of a sale or other transaction with King Pharmaceuticals or any other party, and no assurance can be given with respect to the price or other value that may be obtained in any such transaction," Alpharma said in a statement. Release