Horizon Pharma Raises Bid For Depomed; Both Stocks Up

By | July 21, 2015

Scalper1 News

Specialty drugmaker Horizon Pharma (HZNP) raised its unsolicited offer for Depomed (DEPO) Wednesday, sending both stocks up. Horizon proposed a deal worth $33 a share, all in Horizon stock, up from its earlier bid of $29.25, which Depomed rejected. The market seemed to anticipate such a move, since Depomed was already at 32.73 at Monday’s close, and in fact last week Roth Capital analyst Scott Henry raised his price target on Depomed to 33 Scalper1 News

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