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News  ›  Benzinga

Lundbeck's Higher Buyout Proposal Challenges Alkermes' Pending $2 Billion Avadel Deal

Benzinga Logo Benzinga By Vandana Singh
Lundbeck's Higher Buyout Proposal Challenges Alkermes' Pending $2 Billion Avadel Deal

Lundbeck made an unsolicited $23 per share proposal to acquire Avadel, potentially disrupting Alkermes' existing $2 billion acquisition agreement. Avadel's board is considering the proposal but has not yet withdrawn support for the Alkermes deal.

Insights
MAIN   neutral

Business development corporation with monthly dividends and 7.4% yield, but facing near-term headwinds from declining interest rates and potential dividend coverage challenges


AVDL   positive

Stock price increased 20% due to higher buyout proposal, creating potential value for shareholders