Davy clients to reap e200m on Irish pharma investment

Private clients of stockbroker Davy stand to gain up to e200 million on their early investment in Dublin-based Azur Pharma when the company’s reverse takeover of Nasdaqlisted Jazz Pharmaceuticals closes early next year.

24th September, 2011

Private clients of stockbroker Davy stand to gain up to e200 million on their early investment in Dublin-based Azur Pharma when the company’s reverse takeover of Nasdaqlisted Jazz Pharmaceuticals closes early next year.

The proposed all-share deal, which was announced last week, will give Azur shareholders 20 per cent of the merged entity. Based on Jazz’s pre-deal market capitalisation, the Irish business is worth roughly $500 million, or almost $9 a share. Davy...

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