March 25 (Reuters) - McPherson's Ltd MCP.AX :
* MCPHERSON'S LTD - NOTES ANNOUNCEMENT FROM GALLIN PTY LTD REGARDING ITS UNCONDITIONAL ON-MARKET TAKEOVER OFFER
* MCPHERSON'S LTD - BOARD RECOMMENDS THAT SHAREHOLDERS TAKE NO ACTION AT THIS TIME
* MCPHERSON'S LTD - CONSIDERS THIS OFFER TO BE OPPORTUNISTIC AND PROFOUNDLY UNDERVALUES MCP