ANI, BioSante To Merge In $95M Stock Deal

Law360, New York (October 5, 2012, 2:54 PM EDT) -- Minnesota drug company ANIP Acquisitions Co. and Illinois drugmaker BioSante Pharmaceuticals Inc. have agreed to merge in a stock deal valued at $95 million, both companies said Friday.

The deal between BioSante and ANIP, which does business under the name ANI Pharmaceuticals Inc., has received approval from both companies' boards. The merger is expected to close in the first quarter of 2013, the pharmaceutical firms said.

The agreement calls for BioSante to be the surviving company post-merger. Lincolnshire, Ill.-based BioSante will issue common stock to ANI...
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