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VVUS: Vivus Stock Soars on Buyout Buzz

A major stakeholder is considering an offer


Shares of VIVUS (VVUS) surged almost 6% in Wednesday morning trading after an investment fund signaled an interest in acquiring the drug-maker.

vivus-stock VVUSAspen Investment Fund indicated in regulatory filings that it is mulling a $640 million takeover of VVUS. Aspen currently holds a 9.65% stake in VVUS. The fund proposes to fund a non-binding offer through new debt and working capital, The Street notes.

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An offer could be submitted to VVUS by June 13, the regulatory filing said, though Aspen noted that it remained under no obligation to actually follow throughout with a bid for VVUS.

Last month, VVUS shares sank sharply after the company’s stock rating was downgraded by Piper Jaffray.

VVUS stock closed at $4.67 per share on Tuesday.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/05/vvus-vivus-stock-soars-buyout-buzz/.

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