meranini buys STML
Glad I loaded STML in last dip in March
steamline rockets 151% premarket (SA)
• Privately held Menarini Group has agreed to acquire Stemline Therapeutics (NASDAQ:STML) for $12.50 per share, consisting of $11.50 in cash plus one contingent value right (CVR) that will pay $1.00 in cash upon the completion of the first sale of Elzonris (tagraxofusp) in any EU5 country (UK, France, Spain, Germany, Italy) after European Commission approval.
• The transaction, financed with cash on hand, should close this quarter.
• Friday's close was $4.75.
• Shares up 151% premarket on robust volume
