real-time news and commentary for investors
Wednesday, Sep 18
Retrophin looks to acquire Transcept for $4/share
- Retrophin (RTRX.PK) floats a proposal to acquire Transcept Pharmaceuticals (TSPT) for $4/share.
- The move comes after TSPT's board adpoted a poison pill and rejected an offer of $3.50/share last week.
- Retrophin says the deal "represents an attractive premium to TSPT's trading performance, and ... offers a compelling opportunity for TSPT's stockholders."
- Retrophin CEO Martin Shkreli goes on to call TSPT's acquisition strategy "risky and controversial." (PR)
- TSPT +8% AH on top of 8% during the regular session.