Shares of Concordia Healthcare surged on the day of Thursday after Bloomberg reported that Blackstone Group was considering about acquiring the Canada-based firm.
The stock was up 25.05% before being halted for news pending.
Concordia later stated in a release it had formed a "special committee to review strategic alternatives." Such special committees are often, but not always, seen as a symptom that a company is up for sale.
Bloomberg stated, citing people close to the matter, that talks between the 2 companies were at an early stage, adding that a deal may not happen.
Concordia's stock has fallen nearly 60% in the past year, and more than 25% in 2016.
No comments:
Post a Comment