Talecris Biotherapeutics Holdings Corp. (TLCR) Jumps on Acquisition News
Shares of Talecris Biotherapeutics Holdings Corp. (NASDAQ: TLCR) jumped more than 30% this morning, reaching a high of $22.35 in morning trading; at last check shares were up 25.98% to $20.05, with volume up from daily average of 907,000 to 5.91 million. North Carolina-based Talecris is involved in the production and marketing of plasma-derived protein therapies.
Earlier today, Grifols, a Spanish healthcare company, and Talecris announced that they have a signed a definitive agreement under which Grifols will buy Talecris. The acquisition will be made with a combination of cash and newly-issued Grifols non-voting shares. On completion of the transaction, the combined companies will create a vertically integrated and diversified international plasma protein therapies company. Talecris’ strong presence in the U.S. and Canada will benefit Griflos.Talecris chairman and CEO Lawrence D. Stern said that the company believes that Grifols’ well-established reputation, know-how and expertise will allow the combined company to meet the needs of more patients. Stern said that the company’s employees will benefit from the opportunities that will be presented to them as they become part of a global organization. Stern also said that the company’s stockholders will realize a compelling premium from the acquisition.
Per the agreement, Grifols will acquire Talecris for $19 in cash and 0.641 newly-issued non-voting Grifols’ shares for each Talecris share of common stock. The newly-issued Grifols shares will be listed on the NASDAQ Global Market and the Mercado Continuo in Spain. The acquisition is expected to generate operational synergies worth $230 million. The deal is expected to be completed by the second half of 2010, subject to customary closing conditions, which include regulatory and antitrust review.
The Talecris stock has a 52-week range of $15.70-$24.41. It is currently trading above its 50-day moving average.
About MicroStockProfit.com
MicroStockProfit.com is committed to producing the highest-quality insight and analysis of small cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily on the underserved OTC stocks market, or “penny stock” market, which has traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
