On Tuesday, Shares of NewBridge Bancorp (NASDAQ:NBBC), gained 18.26% to $10.49. 2.42 million shares of the company were exchanged.
Yadkin Financial Corporation (YDKN) and NewBridge Bancorp (NBBC) jointly declared recently that they have reached a definitive merger agreement, following which Yadkin will acquire NewBridge. The combination will strengthen Yadkin as the largest community bank headquartered in North Carolina.
Based on financials stated on June 30, 2015, the combined company would have total assets of $7.1 billion, deposits of $5.2 billion and loans of $5.0 billion. Yadkin will operate in all major North Carolina markets, enhancing its statewide presence in its existing footprint and expanding into the Piedmont Triad.
Yadkin will acquire 100% of the outstanding shares of NewBridge in exchange for shares of Yadkin’s common stock. The exchange ratio has been fixed at 0.50 shares of Yadkin’s common stock for each share of NewBridge which equates to a deal value of $11.40 per share, or about $456 million in the aggregate, based on YDKN’s closing price of $22.79 as of October 12, 2015.
NewBridge Bancorp operates as the bank holding company for NewBridge Bank that provides various banking products to small to medium-sized businesses and retail clients.
Shares of Horizon Pharma PLC (NASDAQ:HZNP), declined -3.40% to $18.48, during its last trading session.
Horizon Pharma plc ( HZNP) a biopharmaceutical company focused on improving patients’ lives by identifying, developing, acquiring and commercializing differentiated and accessible medicines that address unmet medical needs, recently declared that it has filed preliminary proxy materials on Plan 14A with the Securities and Exchange Commission (“SEC”) in connection with its solicitation of proxies to vote in favor of proposals at two related special meetings of Depomed, Inc. (“Depomed”) that Horizon Pharma is presently soliciting consents from Depomed shareholders to call one special meeting to remove all of the current Depomed directors and repeal a series of recent amendments to Depomed’s bylaws (the “Removal and Bylaw Amendments Special Meeting”) and a second special meeting to elect replacement directors (the “Election Special Meeting”).
If the Removal and Bylaw Amendments Special Meeting and the Election Special Meeting are called, Horizon Pharma intends to provide definitive proxy materials and to solicit revocable proxies from Depomed shareholders for votes on the proposals at the Removal and Bylaw Amendments Special Meeting and the Election Special Meeting.
Horizon Pharma’s projected slate of new directors for the Depomed board of directors for election at the Election Special Meeting, if called and held, has not made any commitment to Horizon Pharma if elected other than that each nominee will serve as a director and exercise his or her independent judgment in accordance with his or her fiduciary duties in all matters before the Depomed board of directors and otherwise discharge his or her duties as a director of Depomed comprising with all applicable legal requirements.
Horizon Pharma plc, a specialty biopharmaceutical company, engages in identifying, developing, acquiring or in-licensing, and commercializing medicines for the treatment of arthritis, pain, inflammatory, and/or orphan diseases in the United States and internationally.
Finally, Shares of Mobil’nye Telesystemy PAO (ADR) (NYSE:MBT), ended its last trade with 0.40% gain, and closed at $7.60.
The stock, after recent close, is 3.85% above their SMA 50 and 6.15% from SMA20 and is -10.63% below than SMA200. 30.80% shares of the company were owned by institutional investors. The company has 1.50 value in price to sale ratio while price to book ratio was recorded as 3.33. It beta stands at 1.50.
Mobile TeleSystems PJSC provides telecommunication services in Russia and the Commonwealth of Independent States. It offers a range of mobile and fixed line voice and data telecommunications services, counting data transfer, broadband, pay-TV, and various value-added services, in addition to sells equipment and accessories.
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