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DewDiligence

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Re: ronpopeil post# 184278

Tuesday, 12/02/2014 10:37:47 AM

Tuesday, December 02, 2014 10:37:47 AM

Post# of 257473
AVNR’s PR on Otsuka buyout:

http://finance.yahoo.com/news/avanir-pharmaceuticals-acquired-otsuka-pharmaceutical-083500983.html

Avanir Pharmaceuticals, Inc. (AVNR) today announced that it has entered into a definitive agreement with Otsuka Pharmaceutical Co., Ltd. pursuant to which Otsuka will acquire Avanir for $17.00 per share in cash. The transaction, which values Avanir at approximately $3.5 billion, has been unanimously approved by the boards of directors of both companies. Otsuka will launch a tender offer within ten business days to purchase all outstanding shares of Avanir.

The buyout price is a modest 13% premium to AVNR’s closing price yesterday.

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