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Stock Market & Financial Investment News

News Breaks
July 5, 2014
10:51 EDTMSLIMerus signs definitive acquisition agreement with Dacha Strategic Metals
Merus Labs International announced that it has entered into a definitive acquisition agreement with Dacha Strategic Metals pursuant to which Dacha will complete the balance of the previously announced investment of at least $11M in Merus. As contemplated by the letter agreement between Dacha and Merus which was announced on June 10, the acquisition agreement provides that Merus will acquire from Dacha, in exchange for common shares of Merus, a new subsidiary to be incorporated by Dacha and to which Dacha will contribute a minimum of $6M cash by way of equity subscriptions. The number of Merus Shares that Dacha will receive in exchange for Newco will equal Newco's cash on hand at closing divided by $1.70. Upon closing of the transaction, Merus will pay to Dacha a transaction fee, payable in the common shares of Merus based on a price of $1.70 per share, equal to 3.5% of the aggregate value of the Merus Shares exchanged for Newco. Dacha purchased $5M of Merus Shares at a price of $1.70 per share as part of the Merus bought deal financing completed on June 19. Therefore, upon completion of the transactions contemplated by the acquisition agreement, it is expected that Dacha will have acquired a total of at least $11M of Merus Shares at a price of $1.70 per share. Completion of the transaction is conditional upon the conditions to closing set forth in the acquisition agreement, which include receipt of all necessary stock exchange approvals, receipt of Dacha shareholder approval and no material adverse change with respect to Merus or Dacha. If the transaction has not been completed by August 31, either party may terminate the acquisition agreement. Dacha will be seeking shareholder approval for the sale of Newco to Merus at Dacha's annual and special meeting of shareholders on August 11. Certain Dacha shareholders have signed voting support agreements with Merus pursuant to which they have agreed that they will vote their Dacha common shares in favor of the sale of Newco at the meeting.
News For MSLI From The Last 14 Days
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February 5, 2016
12:55 EDTMSLIMerus Labs management to meet with Canaccord
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February 2, 2016
10:01 EDTMSLIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Agnico Eagle (AEM) downgraded to Hold from Buy at Desjardins... Alere (ALR) downgraded to Hold from Buy at Canaccord... Antero Resources (AR) downgraded to Reduce from Neutral at SunTrust... Carbylan (CBYL) downgraded to Market Perform from Outperform at Leerink... Copa Holdings (CPA) downgraded to Hold from Buy at Deutsche Bank... Dominion (D) downgraded to Neutral from Buy at Citi... Duke Energy (DUK) downgraded to Market Perform from Outperform at Wells Fargo... Hain Celestial (HAIN) downgraded to Neutral from Overweight at Piper Jaffray... Integrated Device (IDTI) downgraded to Neutral from Buy at BofA/Merrill... Logitech (LOGI) downgraded to Underweight from Equal Weight at Morgan Stanley... Merus Labs (MSLI) downgraded to Sector Perform from Outperform at Scotiabank... New Gold (NGD) downgraded to Sell from Buy at Desjardins... Nokia (NOK) downgraded to Underperform from Buy at CLSA... Plantronics (PLT) downgraded to Underperform from Outperform at Raymond James... Pool Corp. (POOL) downgraded to Equal Weight from Overweight at Stephens... Praxair (PX) downgraded to Sector Weight from Overweight at KeyBanc... Rofin-Sinar (RSTI) downgraded to Neutral from Buy at Longbow... Southwestern Energy (SWN) downgraded to Neutral from Overweight at JPMorgan... Stifel cuts Twitter (TWTR) to Sell after noting Yahoo has significantly more users... Superior Energy (SPN) downgraded to In-Line from Outperform at Imperial Capital... Sysco (SYY) downgraded to Underweight from Equal Weight at Morgan Stanley... Telenor (TELNY) downgraded to Underperform from Neutral at Credit Suisse... Twitter (TWTR) downgraded to Sell from Hold at Stifel... Valeo (VLEEY) downgraded to Underweight from Equal Weight at Morgan Stanley.
07:57 EDTMSLIMerus Labs downgraded to Sector Perform from Outperform at Scotiabank
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February 1, 2016
14:56 EDTMSLIMerus Labs now sees FY16 adjusted EBITDA of $43M-$46M
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14:55 EDTMSLIMerus Labs agrees to acquire three cardiovascular products
Merus Labs International announced that it has entered into an agreement with UCB to acquire rights to Elantan, Isoket and Deponit in Europe and select other markets. Merus has agreed to acquire product rights for a one-time payment of EUR 92M, or 2.7 times last 12 months net revenue of approximately EUR 34M. At current exchange rates, the products are expected to generate approximately $22M in annual EBITDA. On an annualized basis, the new products are expected to increase our existing products adjusted EBITDA by approximately 70%. The acquisition will be funded with cash-on-hand and a new Euro-denominated five year term debt facility at an interest rate of 4.5 percent per annum, decreasing as the company de-leverages. All conditions to closing under the purchase agreement, other than payment of the purchase price have been satisfied, and payment of the purchase price and closing are anticipated to be completed during the next five business days.
14:21 EDTMSLIMerus Labs trading halted, pending news
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