Concordia Healthcare Corp. T.CXR.R

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Price: $27.75 -10.63%
 

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(Updated - June 2, 2016 2:04 PM EDT)

Private equity firms Blackstone (NYSE: BX) and Carlyle (NYSE: CG) walked away from the auction process for Concordia Healthcare (Nasdaq: CXRX), according to the Wall Street Journal, citing people familiar. The report states that final bids for Concordia were due Tuesday but the two decided not to participate, leaving Apollo Global Management (NYSE: APO) as potentially the "last man standing."

It isn't known if Apollo submitted a final bid, said WSJ.

An earlier report from StreetInsider indicated that Blackstone was still very much involved with the process and a bid was imminent.

The company has not responded to questions about the ongoing process.

 

[visionaryfool]

For good or bad.. this is coming to an end... if the final bids were due Tuesday (I assume May 31), then its only a matter of time before Management annouces SOMETHING... either no sale or a price offered by a company. Personally, I can't wait for SOMETHING more concrete then rumours and seeing this thing whipsaw 20% in one day.