Avanir Pharmaceuticals, IncNASDAQ
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  • Dec. 2, 2014, 7:18 AM
    | Dec. 2, 2014, 7:18 AM | 1 Comment
  • Dec. 2, 2014, 3:44 AM
    • Deal values Avanir (NASDAQ:AVNR) at $3.5B.
    • Otsuka (OTCPK:OTSKY) will launch a tender offer within ten business days to purchase all outstanding shares of Avanir and will end 20 days later.
    • Expected to close in the first quarter of 2015.
    • Management: "As we bring together Otsuka's experience and business track record in the area of mental illnesses with Avanir's strengths in neurologic diseases, we believe that we can evolve into a truly global CNS pharmaceutical company. Avanir's creativity and proven execution on drug discovery and development for largely unexplored medical indications, typified by PBA, represents a hand-in-glove fit with Otsuka's culture. We admire and respect Avanir's innovation, vision, and execution and want to continue to grow together."
    • Avanir closed yesterday at $15.
    • Previously: Avanir moves up on takeout speculation
    • Previously: Avanir skyrockets premarket on trial results
    | Dec. 2, 2014, 3:44 AM | 2 Comments
  • Nov. 5, 2014, 8:11 AM
    • Avanir Pharmaceuticals (NASDAQ:AVNR) continues its up move on speculation it has engaged Goldman Sachs to find a buyer. Shares are up ~124% from mid-September when it announced positive results from a Phase 2 clinical trial evaluating AVP-923 for the treatment of agitation in Alzheimer's patients.
    | Nov. 5, 2014, 8:11 AM | 1 Comment