I've been out for the past several days and missed a few stories with regard to merger and acquisition activity. Here's a now oldie but a goodie. Charles River has given up on its bid to acquire Wuxi PharmaTech largely due to heavy opposition from its largest investor Jana Partners.
Charles River ends acquisition bid - The Boston Globe.
Wuxi wasn't projecting enough growth to justify the $1.6 billion sales price and the deal collapsed under its own weight. I've attached several links to various sources for more details.
Derek Lowe's In the Pipeline. Analysis from Seeking Alpha. From Ryan Mcbride at Xconomy. Marie Daghlian at Seeking Alpha.
Posted by Bruce Lehr August 3rd 2010.
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