Following U.S. Stocks may claim a “BIG Change,” in the course of current trading session: Hyperion Therapeutics Inc (NASDAQ:HPTX), Horizon Pharma PLC (NASDAQ:HZNP)
- Hyperion Therapeutics Inc (NASDAQ:HPTX), with shares inclined 7.90% is now trading at $46.12, hitting new 52-week high of $46.18. The Stock is active as 2.98M shares changed hands versus its average volume of 409,123.00 shares.
- Horizon Pharma PLC (NASDAQ:HZNP), with shares raised 14.72% is now trading at $25.01, hitting new 52-week high of $25.50. The Stock is active as 2.43M shares changed hands versus its average volume of 3.24M shares.
Latest NEWS regarding these Stocks are depicted underneath:
Today, Hyperion Therapeutics, Inc. (HPTX), and Horizon Pharma plc (NASDAQ:HZNP) declared they have reached a definitive contract under which Horizon Pharma will attain all of the issued and outstanding shares of Hyperion’s ordinary stock for $46.00 per share in cash or about $1.1 billion on a fully diluted basis. The per share consideration represents a premium of about 35 percent to Hyperion’s volume weighted average price for the trailing 60-days. The projected transaction has been unanimously approved by both companies’ boards of directors.
Planned and financial benefits of the transaction:
- Raises the number of Horizon’s products from five to seven, with the addition of RAVICTI and BUPHENYL to Horizon’s orphan business unit, providing additional proceed diversification.
- Leverages Horizon’s orphan business unit offering attractive proceed and operating synergies.
- Predictable 2016 adjusted EBITDA of about $100 million from the attained business with predictable cost synergies of more than $50 million.
Net sales of RAVICTI and BUPHENYL for Q4 2014 and full year 2014 were $30.8 million and $113.6 million, respectively.
Transaction Terms:
The attainment is structured as an all cash tender offer for all the issued and outstanding shares of Hyperion ordinary stock at a price of $46.00 per share followed by a merger in which each remaining untendered share of Hyperion ordinary stock would be converted into the $46.00 per share cash consideration paid in the tender offer.
Horizon has reached contracts with certain stockholders of Hyperion, counting certain members of the Hyperion administration team and certain funds associated with members of the Hyperion board of directors, following which each of these stockholders has agreed to tender the Hyperion ordinary shares owned of record or beneficially by such stockholder, which in the aggregate represent about 21 percent of the outstanding Hyperion ordinary shares as of the date of the contracts.
Closing of the transaction is subject to customary conditions, counting the tender of a majority of the outstanding Hyperion shares and expiration or termination of the HSR waiting period. It is anticipated that the transaction will close in the second quarter of 2015.
At 8 a.m. Eastern Time Today, Horizon’s administration will host a conference call and live audio webcast to review the transaction and related matters.
Hyperion Therapeutics, Inc., a biopharmaceutical corporation, focuses on the development and commercialization of therapeutics to treat orphan diseases in the United states, Canada, and internationally.
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