Alimera Sciences Shares Slide on Merger Lawsuit

Dow Jones

2024/09/10

By Michael Susin

Alimera Sciences shares fell on Tuesday after the company said it filed a lawsuit demanding ANI Pharmaceuticals to complete their merger agreement.

Shares were down 20% to $4.40. However, shares have nearly doubled over the last three months.

The pharmaceutical company said it has filed the lawsuit in the Delaware Court of Chancery asking to require ANI Pharmaceuticals to close the merger agreement.

The company said the Alimera shareholders' approval of the deal on Sept. 4 was the last requirement for completing the merger.

ANI Pharmaceuticals wasn't immediately available to provide comments for Dow Jones Newswires.

On June 24, ANI said it was buying Alimera Sciences for $5.50 per share in cash, in a deal that valued Alimera at $381 million. The offer represented a 75% premium to its closing share price of $3.15 prior to the announcement. ANI would also repay $72.5 million of Alimera debt.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

September 10, 2024 10:02 ET (14:02 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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However, shares have nearly doubled over the last three months. \n</p>\n<p>\n  The pharmaceutical company said it has filed the lawsuit in the Delaware Court of Chancery asking to require ANI Pharmaceuticals to close the merger agreement. \n</p>\n<p>\n  The company said the Alimera shareholders' approval of the deal on Sept. 4 was the last requirement for completing the merger. \n</p>\n<p>\n  ANI Pharmaceuticals wasn't immediately available to provide comments for Dow Jones Newswires. \n</p>\n<p>\n  On June 24, ANI said it was buying Alimera Sciences for $5.50 per share in cash, in a deal that valued Alimera at $381 million. The offer represented a 75% premium to its closing share price of $3.15 prior to the announcement. ANI would also repay $72.5 million of Alimera debt. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Michael Susin at michael.susin@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 10, 2024 10:02 ET (14:02 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ANIP","symbol_name":"ANI Pharmaceuticals, Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2466456257","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466456257","pubTimestamp":1725976920,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Alimera Sciences shares fell on Tuesday after the company said it filed a lawsuit demanding ANI Pharmaceuticals to complete their merger agreement.Shares were down 20% to $4.40. 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However, shares have nearly doubled over the last three months. \n\n\n  The pharmaceutical company said it has filed the lawsuit in the Delaware Court of Chancery asking to require ANI Pharmaceuticals to close the merger agreement. \n\n\n  The company said the Alimera shareholders' approval of the deal on Sept. 4 was the last requirement for completing the merger. \n\n\n  ANI Pharmaceuticals wasn't immediately available to provide comments for Dow Jones Newswires. \n\n\n  On June 24, ANI said it was buying Alimera Sciences for $5.50 per share in cash, in a deal that valued Alimera at $381 million. The offer represented a 75% premium to its closing share price of $3.15 prior to the announcement. 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