Teva offers less for Bentley purchase

EXETER, N.H. Bentley Pharmaceuticals informed shareholders that they will receive a slightly lower price from purchaser Teva Pharmaceutical Industries now that the company has spun off its drug delivery business, CPEX Pharmaceuticals, according to published reports.

Teva agreed to buy Bentley for about $15.02 per share cash, or about $360 million, in March to boost its generic drug operations in Spain. It is now offering about $14.82 per share cash for Bentley.