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Stock Market & Financial Investment News

News Breaks
June 26, 2014
07:02 EDTQLTI, AUXLAuxilium agrees to merge with QLT Inc.
The transaction is expected to drive shareholder value creation by accelerating Auxilium's ongoing transformation into a diversified North American specialty biopharmaceutical company. As a result of the merger, Auxilium expects to have an expanded corporate platform that includes focused investments in research and development and the continued pursuit of new products and M&A due to cost and tax synergies. The companies also intend to continue to pursue a potential partnering agreement for QLT's promising late-stage retinoid program. Under the terms of the agreement, a wholly-owned subsidiary of QLT will be merged with and into Auxilium. QLT will remain incorporated in British Columbia, Canada, and will be renamed "New Auxilium." Current shareholders of Auxilium will receive 3.1359 QLT shares for each Auxilium share, subject to certain adjustments. For QLT shareholders, the transaction represents a 25% premium based on a calculation of the closing NASDAQ stock prices of Auxilium and QLT on June 25. When completed, Auxilium shareholders will own approximately 76% of the combined entity on a fully diluted basis, and current QLT shareholders will own approximately 24%, subject to certain adjustments.
News For AUXL;QLTI From The Last 14 Days
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January 29, 2015
16:35 EDTAUXLEndo sees Auxilium transaction immediately accretive
Endo International plc (ENDP)announced it has completed the acquisition of Auxilium Pharmaceuticals (AUXL) in a transaction valued at $2.6B when announced on October 9, 2014. The closing of the transaction follows the approval of the acquisition by Auxilium's shareholders on January 27 and the receipt of all required regulatory approvals. Rajiv De Silva, president and CEO of Endo, stated, This strategic transaction enhances the organic growth of our branded pharmaceuticals business by adding a broad range of high quality products to our already robust portfolio and expanding our development pipeline. We are excited to deliver on the promise of this combination by leveraging our resources to enhance the performance of XIAFLEX and optimize TESTOPEL and STENDRA. We continue to expect the transaction to be immediately accretive for shareholders and meaningfully accretive each year moving forward. We believe that Endo is now even better positioned to drive growth across our product portfolio and to capitalize on additional future strategic M&A opportunities to create value for shareholders, customers and employees." Auxilium common stock will cease to be traded on the NASDAQ Global Market following the close of trading on January 29.
January 27, 2015
09:35 EDTAUXLAuxilium shareholders approve merger with Endo
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January 22, 2015
14:03 EDTAUXLAuxilium to host special shareholder meeting
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