On Friday, Shares of Discover Financial Services (NYSE:DFS), gained 1.90% to $59.01.
David Nelms, chairman and chief executive officer of Discover Financial Services, will present at the Sanford C. Bernstein Planned Decisions Conference in New York on Wednesday, May 27, 2015, at 11:00 a.m. Eastern time.
Discover Financial Services operates as a direct banking and payment services company in the United States. It operates in two segments, Direct Banking and Payment Services.
Shares of Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), inclined 0.04% to $163.02, during its last trading session.
Alexion Pharmaceuticals, and Synageva BioPharma Corp., declared that they have reached a definitive agreement following which Alexion will acquire Synageva for consideration of $115 in cash and 0.6581 Alexion shares, for each share of Synageva, implying a total per share value of $230 based on the nine day volume-weighted average closing price of Alexion stock through May 5, 2015. The acquisition strengthens Alexion’s global leadership in developing and commercializing transformative therapies for patients with devastating and rare diseases.
The transaction has been unanimously approved by both companies’ Boards of Directors, and is valued at about $8.4 billion net of Synageva’s cash. The transaction is predictable to accelerate and diversify Alexion’s growing revenues, and Alexion anticipates to achieve annual cost synergies starting this year and growing to at least $150 million in 2017. In addition, the transaction is predictable to be accretive to non-GAAP earnings per share in 2018.
Alexion Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes life-transforming therapeutic products. It offers Soliris (eculizumab), a therapeutic product to treat paroxysmal nocturnal hemoglobinuria (PNH), a genetic blood disorder; and atypical hemolytic uremic syndrome (aHUS), a genetic disease.
At the end of Friday’s trade, Shares of Eli Lilly and Company (NYSE:LLY), gained 2.01% to $73.26.
Eli Lilly and Company, declared plans to establish a new drug delivery and device innovation center in Cambridge, Massachusetts – a planned location that will assist attract top scientists and bioengineers, in addition to enhance Lilly’s local business development presence.
The Lilly Cambridge Innovation Center, a makerspace located in Kendall Square, will allow leading life science experts and organizations to explore how emerging technologies and connectivity can advance drug delivery and device innovation to improve patient health.
Lilly Chairman, President and CEO John C. Lechleiter, Ph.D., said the company is locating a portion of its delivery and device organization in Cambridge – one of the nation’s leading regions for research and development of medical delivery technologies – to take advantage of the area’s rich engineering talent base and life sciences ecosystem.
Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products worldwide. It operates in two segments, Human Pharmaceutical Products and Animal Health products. The company offers endocrinology products to treat diabetes; osteoporosis in postmenopausal women and men; human growth hormone deficiency and pediatric growth conditions; and testosterone deficiency.
Finally, The Wendy’s Company (NASDAQ:WEN), ended its last trade with -1.07% loss, and closed at $11.08.
The Wendy’s Company, declared its intention to refinance its existing senior secured credit facility.
As of March 29, 2015, the balance of the Company’s senior secured credit facility was about $1.3 billion. The Company intends to replace the senior secured credit facility with a new securitized financing facility, predictable to be comprised of $2.275 billion of senior term notes and $150 million of variable funding notes. The net proceeds of the new facility would be used for repayment of the existing senior secured indebtedness, transaction costs associated with the refinancing, and general corporate purposes, counting the return of cash to shareholders.
There can be no assurance regarding the timing of a refinancing transaction, the interest rate at which the Company’s existing indebtedness would be refinanced, or that a refinancing transaction will be accomplished.
The Wendy’s Company, through its auxiliaries, owns and franchises Wendy’s restaurant system. The company is involved in operating, developing, and franchising a system of quick-service restaurants. As of December 28, 2014, its restaurant system comprised of 6,515 restaurants, of which about 957 were company-operated restaurants in the United States and 27 foreign countries.
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