Barracuda Networks sold for $1.6 billion

Barracuda agrees to be acquired by Thoma Bravo for $27.55 per share in cash

Barracuda Networks (CUDA) announced that it has entered into an agreement to be acquired by private equity investment firm Thoma Bravo in an all-cash transaction valued at $1.6B.

Barracuda shareholders of record will receive $27.55 in cash for each share of Barracuda common stock they hold.

This price exceeds Barracuda’s 52-week high and represents a premium of 22.5% to the company’s 10-day average stock price prior to Nov. 27, the company noted.

Upon the close of the transaction, Barracuda will operate as a privately-held company with a continued focus on email security and management, network and application security, and data protection solutions that can be deployed in cloud and hybrid environments.

The proposed transaction, which has been unanimously approved by Barracuda’s Board of Directors, is expected to close before Barracuda’s fiscal year end of Feb. 28, 2018, and is subject to approval by Barracuda’s shareholders and regulatory authorities, and the satisfaction of other customary closing conditions.

CUDA closed at $23.69.


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Bazaarvoice sold for $521 million

Bazaarvoice to be acquired by Marlin Equity Partners 

Bazaarvoice (BV) announced that it has entered into a definitive agreement to be acquired by entities affiliated with the global investment firm, Marlin Equity Partners.

Under the terms of the agreement, Marlin will acquire each share of outstanding common stock of Bazaarvoice in exchange for $5.50 in cash for a total value of approximately $521M.

This price represents an 18% premium to the average closing price of Bazaarvoice common stock for the 30-calendar day period ending November 24, 2017.

Upon completion of the transaction, Bazaarvoice will become a privately-held company.

Bazaarvoice will maintain its headquarters in Austin, Texas.

The closing of the transaction is subject to customary closing conditions, including regulatory approvals and the affirmative vote by a majority of the votes cast by the holders of Bazaarvoice common stock at a to-be-scheduled special meeting of stockholders.

The transaction is expected to close in the first quarter of calendar 2018.

BV closed at $4.80.


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Bioverativ drug approved for children with hemophilia B

Bioverativ receives FDA approval for ALPROLIX label update

bioverativ reports positive data on its hemophilia drug. See Stockwinners.com for stocks to buy, stocks to watch, stocks to buy

Bioverativ (BIVV) announced that the U.S. Food and Drug Administration has approved updated labeling for ALPROLIX, the extended half-life therapy for the treatment of adults and children with hemophilia B.

The label update, including the addition of pediatric data showing prophylactic treatment with ALPROLIX results in effective bleed protection with extended dosing intervals, further supports the long-term efficacy and safety profile of ALPROLIX.

These updates are based on interim data from the Phase 3 B-YOND open-label extension trial and final data from the Phase 3 Kids B-LONG pediatric study.

ALPROLIX is a recombinant clotting factor therapy developed using Fc fusion technology to prolong circulation in the body and has been studied in more than 150 adult, adolescent, and pediatric patients over 17,000 exposure days as part of its clinical development program.

The new label demonstrates additional clinical trial experience with 93 subjects treated prophylactically for more than 104 weeks.

The ALPROLIX label update is based on FDA review of results from B-YOND, an open-label, non-randomized extension study of previously-treated adults and adolescents enrolled in the Phase 3 B-LONG study and participants of Kids B-LONG, a Phase 3 study of children with severe hemophilia B.

In these trials, weekly prophylactic treatment with ALPROLIX resulted in a median spontaneous annualized bleeding rate of zero among children and 1.04 among adults and adolescents, and a median joint annualized bleeding rate of zero among children and 1.11 among adults and adolescents. Median overall ABRs for children, and adults and adolescents with weekly prophylactic treatment, were 1.97 and 2.95, respectively.

Updated pharmacokinetic data from these studies are also included in the label.

Obstructive uropathy was also added to the label as a common adverse reaction. Obstructive uropathy was reported in two subjects and the condition was resolved in both cases with hydration.

Other common adverse reactions include headache and oral paresthesia.

BIVV closed at $50.57.


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MGC Diagnostics sold for $50 million

Altus Capital to acquire MGC Diagnostics for $11.03 per share in cash

MGC Diagnostics (MGCD) announced it has agreed to be acquired by affiliates of Altus Capital Partners.

MGC Diagnostics Corporation designs, markets, and sells non-invasive cardiorespiratory diagnostic products in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Altus is a private equity firm that makes control investments in middle market manufacturing businesses.

Altus will acquire all outstanding shares of MGCD for $11.03 per share in cash, or approximately $50.3M.

Under the terms of the merger agreement, Altus will commence a tender offer for all MGCD outstanding shares as promptly as possible after November 27, 2017.

Upon completion of the transaction, which is expected to close in late 2017 or early 2018, MGCD will become a privately held company.

MGCD’s Board unanimously approved the acquisition agreement, which follows a review of strategic alternatives that the company announced on January 25, 2017.

In addition, MGCD directors and officers representing 8.9% of the outstanding shares have entered into tender support agreements with Altus.

The purchase price represents a 44% premium to the January 24, 2017 closing price of $7.65, and premiums of 25% and 37% to the MGCD respective closing prices on the dates one day and three months prior to the date of the announcement.

MGCD closed at $8.80.


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