Spectrum Pharmaceuticals gains on deal to be acquired by Assertio Holdings

Assertio Holdings

25/04/2023 14:02

** Drug developer Spectrum Pharmaceuticals Inc's  SPPI.O 
shares up 38.3% at $0.95 premarket; specialty pharma company
Assertio Holdings Inc  ASRT.O  down 13.9% at $5.51
    ** Companies announce definitive agreement under which
Assertio will acquire SPPI
    ** SPPI stockholders will get up to $1.34 per share
    ** ASRT stockholders to own ~65% & SPPI stockholders to own
rest of combined company
    ** Assertio expects deal to be accretive to its adj EPS and
operating cash flow in 2024
    ** As of last close, SPPI shares up 87.4% this year and ASRT
up 48.8%

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))