Plus   Neg

PDL BioPharma Says No Longer Pursue Proposed Acquisition Of Neos Therapeutics

PDL BioPharma Inc. (PDLI) said Tuesday that it will no longer pursue its proposed acquisition of Neos Therapeutics, Inc. (NEOS). While PDL's last public disclosure announced its proposal expired on November 8, 2017, PDL has maintained its interest until recently making the decision to not make any further proposals.

John McLaughlin, chief executive officer of PDL, said, "While we believe we have provided a compelling opportunity for Neos' shareholders, we were unable to agree on terms that were in the best interest of our shareholders. We continue to pursue other opportunities and be disciplined in the process."

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon Inc. is leading a new $575 million investment in British food delivery company Deliveroo, intensifying the e-commerce giant's competition with rival Uber and its Uber Eats service. Deliveroo noted that Amazon is set to be the largest investor in the Series G preferred shared funding round. With the latest funding round, Deliveroo has raised $1.53 billion. While reporting financial results for the first quarter on Friday, Deere & Co. (DE) slashed its earnings and revenue growth guidance for the full-year 2019. The company said the lower forecast is partly a result of actions taken by it to prudently manage field inventories, which will cause production... European Union regulators on Thursday fined five global banks a total of 1.07 billion euros, or $1.2 billion, for participating in foreign exchange spot trading cartels and manipulating the foreign-exchange currency market. The five banks are Barclays, Royal Bank of Scotland, Citigroup, JPMorgan Chase and Japan's MUFG Bank, formerly known as Bank of Tokyo-Mitsubishi.
Follow RTT