King Pharmaceuticals (KG, news, msgs) will buy Alpharma (ALO, news, msgs) for $37 a share in cash in a deal worth $1.6 billion after Alpharma rejected a previous offer of $1.4 billion. Shares of Alpharma jumped 7% to $35.85; King Pharmaceuticals shares were up 8.8% to $9.38.
Meanwhile, pharmaceutical giant Johnson & Johnson (JNJ, news, msgs) announced a $438 million deal to buy Omrix Bioparmaceuticals (OMRI, news, msgs) this morning. J&J will pay $25 per share for Omrix, an 18% premium over the biotech's closing price on Friday.
Omrix shares rose 16.9% to $24.74 this afternoon. Johnson & Johnson was up 0.8% to $58.79.
And super enrich for this reply
Perhaps thats why we aren't hearing to much news until they have full control again with a majority holding
These two post are from ss hope you don't mind me posting here guys.
We aren't in this league but it does show that companies are willing to pay big dollars for companies with proven products and the directors should be well aware of this.
SLA Price at posting:
18.0¢ Sentiment: LT Buy Disclosure: Held
