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PERNIX signs agreement to acquire TREXIMET Tablets for Migraine from GlaxoSmithKline

May 14, 2014 — by feedmeister0

Pernix Therapeutics Holdings, today announced that it has signed an agreement with GlaxoSmithKline to acquire the U.S rights to Treximet for the acute treatment of migraine attacks with or without aura in adults. The acquistion adds immediate revenues and earnings for Pernix.  The net sales for Treximex for the full year of 2013 was 78.7 million.  This deal is expected to double Pernix’s revenue for 2014.  Pernix will make an upfront payment to GSK of $250 million for the U.S rights to Treximet.  Here is the full story on Pernix’s website.

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Yahoo buys self-destructing mobile messaging app Blink (Video)

May 14, 2014 — by feedmeister0

Yahoo has acquired Blink, a mobile application that allows users to share messages that self-destruct.  The app will reportedly be shut down in the coming weeks so that Blink’s seven-person team can work on Yahoo’s “smart communication” products.  This includes former Google employees Kevin Stephens and Michelle Norgan, who founded Meh Labs, the start-up that created Blink.

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Pinnacle Foods Signs Definitive Agreement for Sale of Company to Hillshire Brands

May 12, 2014 — by feedmeister0

Pinnacle Foods announced today that it has entered into a definitive agreement for the sale of the Company to Hillshire Brands in a transaction to include cash and Hillshire common stock.  Hillshire will acquire all outstanding shares of Pinnacle Foods.  Pinnacle stockholders will receive $18.00 in cash for each share held, along with Hillshire common stock at a fixed exchange ratio of 0.50 Hillshire shares for each Pinnacle share.  The transaction represents an implied premium of approximately 80% since Pinnacle’s March 28, 2013 IPO.  Here is the news release on Pinnacle’s website.

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Office Depot releases first financials since merger with Office Max

May 6, 2014 — by feedmeister0

The New Office Depot formed by the merger of Office Depot and OfficeMax back in November of 2013, today announced results for the first quarter ended March 29, 2014.  Office Depot announced Quarterly Sales of 4.3 billion, compared to sales of 2.7 billion in the same quarter of last year.  Gross Profit was 1 billion, compared to 660 million in the same quarter of last year.  Quarterly Net Loss was 108 million, compared to 7 million, mainly because of the merger expenses.  The first quarter 2014 operating loss included special charges totaling $151 million, which were comprised of $96 million in merger-related expenses, $41 million in non-cash IT-related impairment charges, $9 million in non-cash store impairment charges, and $5 million in International restructuring and other operating expenses.  Here is Office Depot’s SEC Filing.

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Sprint to make bid for T-Mobile (Video)

May 1, 2014 — by feedmeister0

Sprint Chief Financial Officer Joe Euteneuer and Treasurer Greg Block met with six banks to ensure the lenders would be ready with financing structures when Sprint decides to pursue a takeover of T-Mobile.  Sprint’s stock is trading premarket at $9.15 a share, compared to $8.50 where it closed yesterday.
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