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Wall Street's M&A Chatter From April 18: Akorn, Cardinal Health, Post-Weetabix, Nivalis Therapeutics-Alpine Immune

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, April 18, 2017.

Report Fresenius Deal to Acquire Akon is Imminent

The Rumor:

Share of Akorn (NASDAQ: AKRX) spiked to a high of $33.32 Tuesday as Street Insider reported a deal to be acquired by Fresnius is imminent. Fresenius confirmed on April 7 that Fresenius Kabi was in discussions with Akorn regarding a potential deal, though no formal agreement had been reached.

Akorn closed at $33.04, up $1.05.

Cardinal Health to Acquire Patent Portfolio from Medtronic for $6.1B

The Deal:

Cardinal Health (NYSE: CAH) announced it has entered into a definitive agreement to acquire Medtronic's Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency businesses for $6.1 billion in cash, not including cash tax benefits of at least $100 million. The acquisition is expected to close in Q1 of Cardinal Health's fiscal year 2018.

Cardinal Health closed at $72.39, down $9.44.

Post Holdings to Acquire Weetabix for £1.4B

The Deal:

Post Holdings, Inc. (NYSE: POST) has agreed to acquire Weetabix Limited from Shanghai's Bright Food Group and an investment fund advised by Baring Private Equity Asia, for £1.4 billion on a cash free, debt free basis. The transaction is expected to be completed in calendar Q3 (Post’s fiscal Q4), subject to closing conditions, including the expiration of waiting periods under U.S. antitrust laws.

Post Holdings closed at $84.51, down $3.35.

Nivalis Therapeutics Announces Merger Deal with Alpine Immune Sciences

The Deal:

Nivalis Therapeutics, Inc. (NASDAQ: NVLS) and Alpine Immune Sciences, Inc., jointly announced they have entered into a definitive merger agreement under which Alpine will merge with a wholly-owned subsidiary of Nivalis in an all-stock transaction. Former Dendreon CEO Mitchell H. Gold, M.D., will be CEO of the merged company.

The merger is expected to close in Q3 of 2017, subject to shareholder approval.

Nivalis closed at $2.64, and traded as high as $3.48 after-hours.

 

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