Jefferies Downgrades Questcor Pharmaceuticals (QCOR) to Hold Following Takeover
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UPDATE: UBS Upgrades Mallinckrodt (MNK) to Buy
April 9, 2014 7:40 AM EDT(Updated - April 9, 2014 10:58 AM EDT)
UBS upgraded Mallinckrodt (NYSE: MNK) from Sell to Buy with a price target of $84.00 (from $43.00).
Analyst Marc Goodman said, "(1) We were wrong on our sell thesis. Mgt... More
Mallinckrodt (MNK) to Acquire Questcor Pharma (QCOR) in $5.6B Deal
April 7, 2014 7:02 AM EDTMallinckrodt plc (NYSE: MNK), a leading global specialty pharmaceuticals company, and Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR), a high-growth biopharmaceutical company, today announced that they have entered into a definitive merger agreement under which Mallinckrodt will acquire Questcor in a transaction valued at approximately $5.6 billion. The transaction was unanimously approved by the Boards of Directors of both companies. Subject to customary closing conditions, the transaction is currently expected to be completed in the third calendar quarter of 2014.
Under the terms of the transaction, Questcor shareholders will receive $30.00... More
