DUSA Bought by Indian Pharma, Oracle Purchases Instantis: Merger and Acquistions Update
Shares of the dermatology firm DUSA Pharmaceuticals (NASDAQ:DUSA) go through the roof after it agrees to be purchased by India’s Sun Pharma for $8 per share, taking the transaction to a total cash amount of around $230 million. The share price marks a 38 percent bonus to DUSA’s Wednesday close. The company develops and sells the Levulan photodynamic therapy platform for the face and scalp.
Oracle Corporation (NASDAQ:ORCL) acquires Instantis, which develops on-premise non-cloud portfolio project management software which will be joined with the buyer’s Primavera and cloud-based Fusion project management applications. In July, Oracle purchased the cloud project management company Skire.
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Shares of Whiting Petroleum Corporation (NYSE:WLL) pull back from an early super-spike on rumors that Statoil (NYSE:STO) had bid $65/share for the firm. However, Benzinga sunsequently reported that Statoil was denying the rumor, which led to the post-spike fall. In mid-afternoon trading, Whiting shares have still moved up from Wednesday.