Credit Suisse Raises Price Target on Genesee & Wyoming (GWR) Following Announced P&W (PWX) Acquisition
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Unusual 11 Mid-Day Movers 8/15: (SORL) (PWX) (AETI) Higher; (AUPH) (PSG) (MSLI) Lower
August 15, 2016 1:00 PM EDTAurinia Pharmaceuticals Inc. (Nasdaq: AUPH) 55.1% LOWER; announced positive top-line results from the Phase 2b AURA-LV (AURA) clinical study in patients with active lupus nephritis (LN). The trial achieved its primary endpoint, demonstrating statistically significantly greater complete remission (CR) (as defined by confirmed urinary protein/creatinine ratio of =0.5 mg/mg at 24 weeks and confirmed at 26 weeks) in patients treated with 23.7 mg of voclosporin twice daily (p=0.045). Based on the results of the 24-week analysis, Aurinia plans to meet with the U.S. Food and Drug Administration in the fourth... More
Notable Mergers and Acquisitions 8/15: (MAA)/(PPS) (XYL) (SKUL) (GWR)/(PWX)
August 15, 2016 10:04 AM EDT*** MAA (NYSE: MAA) and Post Properties, Inc. (NYSE: PPS) announced that they have entered into a definitive merger agreement under which Post Properties, Inc. will merge with and into MAA, creating a Sunbelt-focused, publicly traded, multifamily REIT with enhanced capabilities to deliver superior value for residents, shareholders and employees. The combined company is expected to have a pro forma equity market capitalization of approximately $12 billion and a total market capitalization of approximately $17 billion.
Under the terms of the agreement, each share of... More
Providence & Worcester Railroad (PWX) will resume trading at 9:00am ET
August 15, 2016 8:39 AM EDTProvidence & Worcester Railroad Company (NASDAQ: PWX) will resume trading at 9:00am EDT.
... MoreGenesee & Wyoming (GWR) to Acquire Providence and Worcester Railroad (PWX) in $126M Deal
August 15, 2016 8:31 AM EDTGenesee & Wyoming Inc. (G&W) (NYSE: GWR) announced that it has agreed to acquire Providence and Worcester Railroad Company (P&W)(Nasdaq: PWX) for $25.00 per share, or approximately $126 million. Subject to satisfaction of customary closing conditions, the acquisition is expected to close following the receipt of P&W shareholder approval in the fourth quarter of 2016.
Headquartered in Worcester, Mass., and operating in Rhode Island, Massachusetts, Connecticut and New York, P&W is contiguous with G&Ws New England Central Railroad (NECR) and Connecticut Southern Railroad (CSO). Rail service is... More
