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Market Update

Bristol-Myers to Invest in uniQure, Ventas Acquires Ardent Medical

Author: Mukesh Buch
Last Update: 12:57 PM ET April 06 2015

12:40 PM New York Bristol-Myers plans to invest in The Netherlands-based biotech uniQure. Shanda Games agreed to go private for $1.9 billion. Ventas agreed to acquire privately-owned hospital operator Ardent Medical Services for $1.75 billion and spin off most of its skilled nursing facilities.

Tollbooth Index gained 0.5% or 53.88 to 10,503.78.

Earnings Review

Bristol-Myers Squibb Co (BMY) rose 12 cents to $63.39 after the biopharmaceutical company said it plans to invest $100 million in The Netherlands-based biotech uniQure NV.

The company will acquire 4.9% stake in UniQure of at least $32 million at $33.84 per share and an additional 5% stake before end of the year at a 10% premium.

The deal includes upfront payment of $50 million at the closing of the transaction to get access to its gene therapy technology platform for cardiovascular diseases.

The transaction is expected to close by the end of second-quarter in June.

Shares of Uniqure NV surged 46.6% to $33.52.

Shanda Games Limited (GAME) jumped 4.3% or 28 cents to $6.77 after the China-based online game developer agreed to be taken private by Capitalhold Ltd and its unit Capitalcorp Ltd for $3.55 for ordinary shares and $7.10 for American depositary receipts or in a deal valued at $1.9 billion.

The merger is currently expected to close in the second-half of 2015.

Schulman A Inc (SHLM) gained 23 cents to $48.35 after the plastic compounds, resins supplier ahead of its second-quarter earnings results after the market close.

Ventas, Inc (VTR) climbed 4.9% or $3.62 to $76.85 after the real estate developer agreed to acquire the privately-owned hospital operator Ardent Medical Services, Inc. for $1.75 billion in cash.

The transaction is expected to close before the end of first-half.

Separately, the company said it would spin off most of its skilled nursing facilities into an independent real-estate investment trust.

The transaction is expected to be completed in the second-half of 2015.

Williams Partners L.P (WPZ) slipped 1.8% or 91 cents to $47.85 after the energy assets operator agreed to acquire an additional 21% equity interest in Utica East Ohio Midstream LLC from a subsidiary of EV Energy Partners, L.P. for approximately $575 million.

The transaction is expected to close by mid-July 2015.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc