Piper Jaffray Downgrades Sagent Pharmaceuticals (SGNT) to Neutral; Doesn't See Another Bidder Emerging
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 8/14/2026
- Tech stocks pull Wall Street lower as investors weigh data, Middle East tensions
- BofA's Hartnett explains why Wall Street is trading with 'no fear'
- Oil rises after US threatens indefinite blockade of Iran; set for weekly gains
- Are KOSPI and SOX in a bubble? Citi answers
- Could Intel return to the red-hot memory market after $20B raise and recent hire?
RBC Capital Downgrades Sagent Pharmaceuticals (SGNT) to Sector Perform Following Takeover
July 11, 2016 10:38 AM EDTRBC Capital downgraded Sagent Pharmaceuticals (NASDAQ: SGNT) from Outperform to Sector Perform with a price target of $21.75 (from $20.00) after the company announced that Nichi-Iko would acquire SGNT for $736 million in cash or a 40% premium to Friday's close.
"Per our conversation with... 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
