Avanir Pharmaceuticals, IncNASDAQ
Dec. 2, 2014, 7:18 AM
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
Nov. 5, 2014, 8:11 AM| Nov. 5, 2014, 8:11 AM | 1 Comment