SBA Enters MERGER Agreement and Other Stocks that Have Hit 52-Week Highs
SBA Communications (NASDAQ:SBAC) has entered into a definitive merger agreement with special TowerCo affiliates which own 3,252 tower sites within 47 U.S. states and Puerto Rico. SB will pay $1.2B cash and 4.6M shares of SBA Class A common stock, which indicates a transaction value totaling $1.45B based on the average three-day closing price of $54.48 as of June 22. The shares closed at $57.15, up $1.51 or 2.71% on the day. They have traded in a 52-week range of $32.36 to $56.00.
Supernus Pharmaceuti Inc’s (NASDAQ:SUPN) Trokendi XR treatment for epilepsy has been tentatively approved by the FDA. In order to receive final authorization, Supernus must resolve an exclusivity issue involving a particular pediatric population. Due to its NDA on Trokendi XR, the FDA has also denied Upsher Smith Labs’ Citizen’s Petition which was filed in 2011. The shares closed at $12.23, up $6.52 or 114.19% on the day. They have traded in a 52-week range of $4.30 to $7.01.
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