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Article: New River Pharmaceuticals to be Acquired by Shire plc for $64 per Share.
- Article from:
- PR Newswire
- Article date:
- February 20, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RADFORD, Va., Feb. 20 /PRNewswire-FirstCall/ -- New River Pharmaceuticals Inc. announced today that it has signed a definitive agreement with Shire plc under which Shire has agreed to acquire New River. Shire will pay $64.00 in cash for each share of NRPH common stock, or approximately $2.6 billion for the fully diluted equity interest of New River. The per share acquisition price represents a 14.4 % premium to New River's most recent four-week average closing price per share of $55.92.
The acquisition will be effected by means of a cash tender offer by a wholly owned subsidiary of Shire for all outstanding shares of New River, followed by a merger in which ...