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Sarepta Therapeutics, Inc.'s (NASDAQ:SRPT): Sarepta Therapeutics, Inc. focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare neuromuscular diseases. Read More...
Moody's Investors Service (Moody's) said that ASG Technologies Group, Inc.'s B2 Corporate Family Rating and stable ratings outlook are not affected at this time by ASG's increased offer to acquire Mitek Systems, Inc. On 10 December 2018, ASG Technologies Group, Inc. and the affiliates of Elliott Associates, L.P., ASG's financial sponsors, made public their increased offer to acquire Mitek Systems, Inc. for $11.50 per share in cash, up from the $10 per share offer that was made public on 31 October 2018.
In a public letter released on Monday, hedge fund Elliott Management Corp's ASG Technologies raised its offer to buy Mitek to $11.50 per share from $10 previously on Oct. 31. Following ASG's latest offer, Mitek said it offered ASG the opportunity to access preliminary diligence on a confidential, non-exclusive basis to provide ASG an opportunity to increase its offer price. "We requested that ASG and Elliott agree to a confidentiality agreement, including a customary standstill, to prevent the misuse of the company's confidential and proprietary information," Mitek said.
Mitek Systems Inc on Tuesday rejected ASG Technologies Group Inc's latest buyout offer, saying it undervalued the financial technology provider. In a public letter released on Monday, hedge fund Elliott Management Corp's ASG Technologies raised its offer to buy Mitek to $11.50 per share from $10 previously on Oct. 31. Following ASG's latest offer, Mitek said it offered ASG the opportunity to access preliminary diligence on a confidential, non-exclusive basis to provide ASG an opportunity to increase its offer price.
Hedge fund Elliott Management Corp's ASG Technologies Group Inc raised its offer to buy Mitek Systems Inc to $11.50 per share from $10, in its latest attempt to buy the provider of financial technology to banks. ASG said it made the offer public because Mitek refused to engage with the hedge fund on "reasonable terms." Mitek could not immediately be reached for comment. Mitek's shares were up 10 percent at $9.96.
Hedge funds and other investment firms run by legendary investors like Israel Englander and Ray Dalio are entrusted to manage billions of dollars of accredited investors’ money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to invest a […]
Examining Renren Inc’s (NYSE:RENN) past track record of performance is a useful exercise for investors. It allows us to reflect on whether the company has met or exceed expectations, which Read More...
BioMarin Pharmaceutical’s (BMRN) net revenues over the first nine months of this year amounted to $1.1 billion compared to $955.3 million in the same period the prior year, a ~19% YoY increase. BioMarin Pharmaceutical reported net revenues of $391.7 million in the third quarter, which reflected ~17% YoY growth.
BioMarin Pharmaceutical’s net income and EPS for the first nine months of this year amounted to -$73.6 million and -$0.42, respectively, compared to -$65.7 million and -$0.38 in the same period the prior year.
Investors need to pay close attention to ZIOPHARM Oncology (ZIOP) stock based on the movements in the options market lately.
Investors target stocks that have been on a bullish run lately. Actually, stocks seeing price strength have a high chance of carrying the momentum forward.
Sarepta's (SRPT) key product, Exondys 51, continues to perform well. Its lead pipeline candidate, golodirsen, is also making good progress. The company is also developing gene therapies.
Hedge fund Elliott Management on Tuesday asked Mitek Systems Inc to scrap a so-called "poison pill" to let it buy more stock and said it may press for board changes after the software company took steps to protect itself from the activist investor. Elliott, which invests more than $34 billion, wrote to Mitek's board and asked for "relief from the poison pill recently enacted" in order to buy as much as 14.9 percent of the company's stock. Elliott has not disclosed the size of its stake, which includes common stock and swaps, but has said it is one of the company's biggest shareholders.
Hedge fund Elliott Management on Tuesday asked Mitek Systems Inc to scrap a so-called poison pill to let it buy more stock and said it may press for board changes after the software company took steps to protect itself from the activist investor. Elliott is increasing the pressure on San Diego-based Mitek at a time that software company ASG Technologies, which the hedge fund owns, has been pushing to buy Mitek for $10 a share. Elliott wrote that ASG President and Chief Executive Charles Sansbury first approached Mitek about a possible takeover in August, roughly one week before the company announced that long-serving CEO James DeBello and chief financial officer Jeff Davison would be leaving.
Elliott Management leader Paul Singer (Trades, Portfolio) disclosed that he established six new positions when he released his third-quarter portfolio earlier this week. Warning! GuruFocus has detected 5 Warning Signs with FE. As a well-known activist investor, the guru's New York-based firm takes large stakes in underperforming companies and then encourages management to implement changes that will improve performance and profitability.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peak (Biotech stocks hitting 52-week highs on Nov. 15) Vapotherm, Inc. (NYSE: VAPO ) Down In The Dumps (Biotech ...
With the earnings season coming to an end, data presentations on key drugs and candidates hog the limelight this week.
Renren, which was once heralded as the 'Facebook of China' and later became China's answer to MySpace after falling out of fashion among its core young users, is selling its social networking business. Renren's parent company Beijing Qianxiang Wangjing has agreed to sell all tangible and intangible assets of renren.com to Beijing Infinities Interactive Media, according to a statement. As part of the deal, Qianxiang will receive $40 million worth of shares in Beijing Infinities, a $700 million firm that owns one of China's major IT news sites DoNews.