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Acquisitions In Brief

This article was originally published in The Gray Sheet

Executive Summary

Northstar Neuroscience rebuffs takeover attempt: Neuromodulation device developer declines investment fund Tang Capital's unsolicited offer to buy the firm for $2.25 per share as "not in the best interests of all shareholders." Northstar's July 8 response to Tang's July 2 offer notes that the firm will continue to work with investment banker Leerink Swann in considering "strategic alternatives." Northstar stock closed at $1.88 on July 11 (1"The Gray Sheet" July 7, 2008, In Brief)
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