Super Hot Stocks of the Week: Avon Products, AEterna Zentaris, Express Scripts, Willbros Group
Avon Products Inc.’s (NYSE:AVP) board is said to have considered the second indication of interest in two weeks from Coty, Inc., for its acquisition by that company. Coty’s unsolicited, non-binding offer of $23.25 per share was basically unchanged from its first bid.
AEterna Zentaris Inc. (NASDAQ:AEZS) reports that its Phase 3 “X-PECT” clinical trial evaluating perifosine + capecitabine in patients with refractory advanced colorectal cancer did not meet the primary objective of improving the odds of overall survival versus capecitabine + placebo. However, AEterna says that it retains the necessary cash to pursue its other ongoing late-stage programs with AEZS-108 and AEZS-130 for longer than the next 12 months.
Express Scripts Inc. (NASDAQ:ESRX) closes on its $29.1 billion acquisition of Medco Health (NYSE:MHS) Monday. The new Express Scripts is a holding company which owns 100 percent of the existing Express Scripts and Medco. Each share of the former company’s common stock was converted into a share of the new Express Scripts common stock, and each share of Medco was converted into the right to receive $28.80 in cash, without interest and 0.81 shares of common stock of the new Express Scripts.
Willbros Group Inc. (NYSE:WG) says that the revenues opportunities lost with its divestiture of its cross-country pipeline construction in Canada, will be replaced with accretions from continued expansion of its operations in the Canadian oil sands. Meanwhile in Willbros’ U.S. operations, increased future construction activities are expected as inquiries for fabrication and manufacturing services are rising, plus the fact that manpower levels in both its upstream and downstream engineering units have increased during the past year. Further, continued expansion is projected in the mid-stream markets for field gathering, processing, terminal and small diameter pipeline projects.