Acetlion To Buy CoTherix For $420 Million
Swiss company Acetlion (SWX: ATLN) announced early Monday that it intends on acquiring U.S. based CoTherix (CTRX) for $13.50 a share, or $420 million US. That figure is more than 20% CoTherix's closing price on Friday.
The deal strengthens Acetlion's pulmonary arterial hypertension market, as CoTherix's drug Ventavis is expected to have an immediate positive effect on its 2007 earnings.
CoTherix held over $80 million in cash and no debt as last reported on Yahoo!Finance.
Directors and Officers of CoTherix have already agreed in principal to Acetlion's offer, pending regulatory approval.
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Swiss company Acetlion (SWX: ATLN) announced early Monday that it intends on acquiring U.S. based CoTherix (CTRX) for $13.50 a share, or $420 million US. That figure is more than 20% CoTherix's closing price on Friday.
The deal strengthens Acetlion's pulmonary arterial hypertension market, as CoTherix's drug Ventavis is expected to have an immediate positive effect on its 2007 earnings.
CoTherix held over $80 million in cash and no debt as last reported on Yahoo!Finance.
Directors and Officers of CoTherix have already agreed in principal to Acetlion's offer, pending regulatory approval.
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posted by Nico at
7:17 AM
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