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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (4530)	10/17/2017 1:41:59 PM
From: richardred	Read Replies (1) \| Respond to of 7243

RE-ACET speculation- New ACET CEO is a pharma guy. IMO all the more reason to separate Generics from the rest of the company. $ACET: New Insider Filing on PRESIDENT AND CEO WILLIAM C. III KENNALLY:https://t.co/kRw0b5G5bF — Insider Alerts (@InsiderAlertsIA) October 3, 2017 Impax Laboratories and Amneal Pharmaceuticals to merge, creating the 5th-largest U.S. generics business Published: Oct 17, 2017 7:47 a.m. ET Impax Laboratories Inc. IPXL, -6.52% and privately-held Amneal Pharmaceuticals LLC announced Tuesday an agreement to merge in a all-stock deal, forming a new publicly traded company named Amneal Pharmaceuticals Inc. Impax shareholders will own 25% of the new company's shares and Amneal Holdings member will own 75%. The companies said the new company will have the fifth largest generics business in the U.S. Impax's market capitalization was $1.48 billion at Monday's stock closing price. In connection with the deal, Amneal Holdings member have entered into private-placement agreements with TPG and Fidelity management & Research Co. to sell 46.8 million unregistered common shares at $18.25 a share. The companies expects annual synergies of $200 million within three years after the deal closes, which is expected in the first half of 2018. Separately, Impax affirmed its 2017 financial guidance. Impax's stock, which is currently halted for news, had run up 51% year to date, while the SPDR S&P Pharmaceuticals ETF XPH, +0.09% had gained 9.3% and the S&P 500 SPX, -0.09% had advanced 14%. marketwatch.com