Bristol-Myers to Buy Fibrosis Drug Rights, Exelon Reaffirmed Pepco Pursuit

Mukesh Buch
31 Aug, 2015
New York City

Bristol-Myers plans to acquire worldwide right for fibrosis drug from Promedior for $1.3 billion. Exelon reaffirmed to acquire Pepco Holdings. HealthSouth plans to acquire CareSouth Health for $170 million. Quanex Building Products agreed to acquire Woodcraft for $248.5 million.

[R]12:45 PM New York – Bristol-Myers plans to acquire worldwide right for fibrosis drug from Promedior for $1.3 billion. Exelon reaffirmed to acquire Pepco Holdings. HealthSouth plans to acquire CareSouth Health for $170 million. Quanex Building Products agreed to acquire Woodcraft for $248.5 million.[/R]

Tollbooth Index slipped 53.48 or 0.5% to 10,411.96.

Earnings Review

Bristol-Myers Squibb Company ((BMY)) slipped 1.4% or 87 cents to $59.74 after the drug-maker said it plans to acquire exclusive worldwide right for mid-stage fibrosis drug from privately held Promedior Inc for up to $1.25 billion in cash.

Exelon Corporation ((EXC)) slumped 2.6% or 81 cents to $30.59 after the utility services provider reaffirmed to acquire Pepco Holdings Inc., after utility regulators for the District of Columbia rejected the $6.8 billion merger deal in last week.

HealthSouth Corp ((HLS)) rose 7 cents to $43.42 after the rehabilitative care provider plans to acquire privately held home-healthcare company CareSouth Health System Inc. for $170 million in cash.

Quanex Building Products Corporation ((NX)) edged up 1 cent to $18.25 after the residential building products supplier agreed to acquire privately held Woodcraft Industries, supplier of doors and components for about $248.5 million in cash.

The transaction is expected to close in the fourth-quarter.

Star Bulk Carriers Corp ((SBLK)) jumped 3% or 7 cents to $2.40 after the Greece-focused shipping company said revenues in the second-quarter ending in June surged 135% from a year ago to $55.7 million.

Net loss in the quarter widened to $65 million or 34 cents per diluted share compared to $3 million or 10 cents from the same quarter last year.