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May 9, 2014
09:19 EDTAKRXAkorn to acquire VersaPharm for $440M in cash
Akorn announced that it has entered into a definitive agreement to acquire VPI Holdings Corp., the parent company of VersaPharm Incorporated, for $440M in cash. This acquisition is expected to add $90M-$100M in annual revenues and 10c-12c in EPS, excluding new pipeline launches, deal amortization and acquisition-related expenses. Akorn intends to fund the transaction through approximately $445M in term loan borrowings. Fully committed financing for the transaction has been provided by JPMorgan Chase Bank, N.A. The acquisition will be subject to customary conditions, including termination of the waiting period under the provisions of the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended. Pending the satisfaction of such customary conditions, Akorn anticipates closing the transaction in 3Q14.
News For AKRX From The Last 14 Days
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July 21, 2015
10:01 EDTAKRXOn The Fly: Analyst Initiation Summary
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06:54 EDTAKRXAkorn initiated with a Neutral at Susquehanna
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July 17, 2015
07:25 EDTAKRXAkorn risk/reward favorable into restatements, says JPMorgan
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