Impax Laboratories Inc. (IPXL) announced Thursday morning that it agreed to acquire Tower Holdings Inc., including operating subsidiaries CorePharma LLC and Amedra Pharmaceuticals LLC and Lineage Therapeutics Inc., for $700 million in cash.
Impax Laboratories gapped open sharply higher Thursday, but traded in a range for the bulk of the session. The stock closed up by 2.81 at $26.65 on strong volume. Impax Laboratories leaped to over a 2-month high.
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