ALKS Raises Its Offer to Buy Avadel In Response to Lundbeck's Proposal

Key Takeaways Alkermes raised its offer to buy Avadel to $22.50 per share, valuing the deal at about $2.37 billion.The move came after Avadel declared Lundbeck's unsolicited bid a Company Superior Proposal.Avadel now says Lundbeck's offer is no longer superior following the increased offer from Alkermes.Alkermes (ALKS) announced that it has now increased the offer to acquire Ireland-based Avadel Pharmaceuticals (AVDL) in a deal valued at up to $22.50 per share, representing a total transaction value of appr ...