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Ryan Drexler, a former senior executive at Hauppauge, New York-based Country Life Vitamins, bid $10.75 per share to acquire Nutraceutical International Corp.
In a letter penned to the herbal remedies marketer, Drexler wrote, "I believe the company is sorely underperforming and in dire need of management direction and expertise."
In speaking with MergersUnleashed, Ryan Drexler added, "There is a major problem at the company. They have made several acquisitions, but really haven't grown those sales...