In this report: Advanced Analogic Technologies (NASDAQ:AATI), Leap Wireless International (NASDAQ:LEAP) and Adeona Pharmaceuticals (AMEX:AEN).
Advanced Analogic Technologies (NASDAQ:AATI) is trading over 32 percent higher today after Skyworks solutions would buy the company for $5.80 per share in cash. The total offer for the deal stands at $257 million, a 34 percent premium on Advanced Analogic closing stock price on Tuesday. Skyworks hopes to start a tender offer for the company within the next few business days and will finance the deal with cash on hand. Both companies have agreed to drop the charges against each other as part of the deal. Advanced Analogic Technologies currently trades at $5.75 per share.
Leap Wireless Internatioanl (NASDAQ:LEAP) is trading over 13 percent higher today after the company received an upgrade by analysts at RBC Capital. The firm lifted its rating on Leap Wireless to ‘Outperform’ from ‘Sector Perform’ helping the stack rally to as high as $9.06 per share on Wednesday.
Adeona Pharmaceuticals (AMEX:AEN) rallied by more than 26 percent on Wednesday after the company reported positive results from its clinical study of its oral zinc for ALS collaboration. The company stated that the study met its primary outcome and that no safety issues results from observation of the zinc therapy. Adeona Pharmaceuticals last traded at $1.05 per share.
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