India, July 21 -- PharmChem, Inc. (PCHM.PK), Monday announced that the company has agreed to be acquired by Alcohol Monitoring Systems, Inc. for $3.75 per share in cash.
The company expects the acquisition to boost its product's reach, serve customers better, and provide more opportunities to employees.
The deal is expected to close before the end of the third quarter.
Thursday, PCHM closed at $3.7, down 6.33 percent on the OTC Markets.
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