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Market Update

GVC in 4 B Deal with Ladbrokes Coral, Roche to Acquire Ignyta

Author: Sarla Buch
Last Update: 10:37 AM EST December 26 2017

4:00 PM Frankfurt GVC agreed to acquire rival Ladbrokes Coral for 4 billion. Mallinckrodt agreed to buy Sucampo Pharmaceuticals for $1.2 billion. Roche agreed to acquire the U.S.-based cancer drug-maker Ignyta for $1.7 billion.

In London trading, FTSE 100 index jumped 60.91 or 0.8% to 7,586 and in Frankfurt the DAX index edged up 10.41 to 13,079.71.

In Paris, CAC 40 index rose 7.34 to 5,360.53.

GVC Holdings Plc dropped 2.3% to 912.59 pence after the U.K.-based sports betting and gaming services provider agreed to acquire rival Ladbrokes Coral for about 4 billion or $5.35 billion.

Under the terms, GVC offered 164.40 pence in cash and stock along with contingent payment of 42.80 pence per share.

Ladbrokes Coral Group Plc stock jumped 1.7% to 176.93 pence.

Mallinckrodt Plc, the U.K.-based specialty drugs maker agreed to acquire Sucampo Pharmaceuticals, Inc, including a subsidiary of Sun Acquisition Co. for $18 per share or $1.2 billion, including debt.

Roche Holding Ltd fell 0.2% to 246.30 Swiss francs after Switzerland-based healthcare products maker agreed to acquire the U.S.-based cancer drug-maker Ignyta, Inc $27 per share in cash or total transaction value of $1.7 billion, representing a premium of 74% to the closing price of December 21.

The transaction is expected to close in the first-half of 2018.

Laser Zentrum Nord GmbH, Germany-based privately-held industrial application developer awarded contract for PrintRite 3D INSPECT to the U.S.-based Sigma Labs Inc without disclosing financial terms.

Sigma Labs Inc stock in Nasdaq trading catapulted 151.8% to $3.50.

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