In this report: Adolor Corp. (NADAQ:ADLR), Sky-modi Ltd. (NASDAQ:MOBI) and Healthspring Inc. (NYSE:HS).
Adolor Corp. (NADAQ:ADLR) shoot up by more than 130 percent today after it was announced that Cubist Pharmaceuticals will buy the company for $190 million in cash. The offer equates to $4.25 per share and will include a contingent payment rise of up to $4.50 per share should certain regulatory approvals be met. Adolor was later downgraded by analyst at Brean Murray. The firm now rates Adolor with a ‘Hold’ rating, down from ‘Buy’. The company currently trades at $4.45 per share.
Sky-modi Ltd. (NASDAQ:MOBI) gained more than 40 percent today and currently trades at a price of $5.50 per share. The company announced on Monday that it has formed a strategic Cooperation with SINA Corp in regards to its Weibo microblog which will now be made available as a downloadable applications through the Maopao application store and via technical plug-ins to Sky-mobi’s Maopao social network.
Healthspring Inc. (NYSE:HS) is trading over 33 percent higher today after it was reported that Cigna (NYSE:CI) will acquire the company for $3.8 billion as it expands its Medicare coverage. The offer equates to $55 a share and the offer led to a rally for other insurers that offer Medicare programs such as Humana, Universal American and WellCare Health Plans. Cigna stated that it will fund the acquisition with cash on hand, debt and the issuance of new shares.
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