Today it was announced that Danone North America would acquire all outstanding shares of Medical Nurtition USA (MDNU) for $4.00 per share. This will be a cash transaction valuing the company at just over $60 million. In response the the buyout, shares of MDNU were heading higher, gaining more than 42% on Friday.
Shares of Buckeye Holdings (NYSE:BGH) were soaring higher this morning after it was announced that the general partner would merge with Buckeye Partners (NYSE:BPL). Each holder of Buckeye Holdings would be entitled to 0.705 shares of Buckeye partners, valuing the general partner at $41 per share. In afternoon trading, shares of BGH were on the move, gaining more than 17% today.
And Repros Therapeutics (NASDAQ:RPRX) received some good news from the FDA this week. The company announced it had received confirmation from the FDA that its full clinical hold on Proellex has been lifted. The company is expected to commence a low dose study to determine safety, with the doses escalating over time. Shares of Repros were sharply higher, gaining a little more than 18% today.
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