On Jul. 22, 2008, Bentley Pharmaceuticals was acquired by Teva Pharmaceutical Industries. At closing, Bentley consisted solely of its generic pharmaceutical operations, following the spin-off of its drug delivery business to its stockholders on Jun. 30, 2008.

Bentley makes and sells a portfolio of about 130 pharmaceutical products in various dosages and strengths. It operates primarily in Spain, but also sells generic drugs in other parts of the European Union, Teva said.

Bentley shareholders will receive about $15.02 per share, Teva said, about a 9 percent premium to Bentley’s New York Stock Exchange closing price of $13.74 on Friday. Bentley shares were trading up more than 14 percent following the acquisition announcement. The deal was expected to close in the third quarter of 2008 and add to Teva’s earnings within 12 months of closing.