Spectrum Pharmaceuticals gains on deal to be acquired by 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))
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