AMAG Pharmaceuticals (AMAG)

[mlkrborn]

AMAG and ALTH merge with stox deal.. Both down. AMAG drops 14% on merger deal with Allos
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By Val Brickates Kennedy

AMAG ALTH

BOSTON (MarketWatch) -- Shares of AMAG Pharmaceuticals /quotes/zigman/107237/quotes/nls/amag AMAG -13.95% dropped 14% to $16.46 on Wednesday following news that it plans to merge with Allos Therapeutics /quotes/zigman/81880/quotes/nls/alth ALTH -1.94% in an all-stock deal valued at around $686 million. Following the merger, AMAG shareholders will hold a 61% stake in the new company, while Allos stockholders will have 39%. The combined company will be headquartered in Lexington, Mass., and will be renamed "to reflect its strategic focus," the companies said. The deal is expected to close in the fourth quarter. Shares of Allos were down 1%.