VVUS: Vivus Stock Soars on Buyout Buzz

A major stakeholder is considering an offer

   

VVUS: Vivus Stock Soars on Buyout Buzz

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

 VVUS: Vivus Stock Soars on Buyout BuzzAspen 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.

beats electronics 200x200 VVUS: Vivus Stock Soars on Buyout Buzz
Friday Apple Rumors: ‘70% Certainty’ That Apple Will Acquire Beats

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.

More Mergers & Acquisitions News:


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

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.