REPH ACQUISITION TO NEGOTIATE PESCH MERGER BID

  REPH Acquisition Co said its board
  appointed a special committee to negotiate the terms of an
  offer made earlier today by &lt;Pesch and Co> to merge with its
  Republic Health Corp &lt;REPH> unit.
      Pesch, through its Alpha Health Systems Corp unit, offered
  to acquire the 36 pct of Republic Health stock that it does not
  already own.
      Terms of Pesch's offer have not been disclosed.
  

