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Fly News Breaks for April 10, 2017
BAX, FSNUY, AKRX
Apr 10, 2017 | 06:05 EDT
With Fresenius (FSNUY) and Akorn (AKRX) confirming buyout talks, Jefferies analyst Chris Cooper says a price for Akorn at 4.5 to 5 times sales, or $36 to $40 per share, is not unreasonable based on comp deals. The analyst notes Baxter's December 2016 acquisition of Claris was done at 6.3 times sales. Akorn closed Friday up 18% to $29.77 after Bloomberg broke news of the merger talks.
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