RBC Capital Downgrades Sagent Pharmaceuticals (SGNT) to Sector Perform Following Takeover
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Piper Jaffray Downgrades Sagent Pharmaceuticals (SGNT) to Neutral; Doesn't See Another Bidder Emerging
July 11, 2016 12:32 PM EDTPiper Jaffray downgraded Sagent Pharmaceuticals (NASDAQ: SGNT) from Overweight to Neutral with a price target of $21.75 (from $22.00) after the company agreed to be acquired by Japan-based Nichi-Iko Pharmaceutical for $21.75 per share.
Analyst David Amsellem commented, "would be surprised to see another bidder... More
Nichi-Iko Pharma to Acquire Sagent Pharmaceuticals (SGNT) in $736M Deal
July 11, 2016 6:03 AM EDTNichi-Iko Pharmaceutical Co., Ltd and Sagent Pharmaceuticals, Inc. (Nasdaq: SGNT) announced that they have entered into a definitive merger agreement under which Nichi-Iko will acquire Sagent via an all-cash tender offer (the Tender Offer) followed by a second-step merger, for a total consideration of approximately $736 million.
The acquisition price represents a premium of approximately 40.3% to Sagents closing price of $15.50 per share on July 8, 2016. The transaction, which has been unanimously approved by the Nichi-Iko and Sagent Boards of Directors, is expected to close in the second quarter of Nichi-Ikos fiscal year ending March 2017, subject to... More
