Monday’s Trending Stocks: CBS, Medivation, HPE, Boeing, Sagent Pharmaceuticals

Nichi-Iko Pharmaceutical to Acquire Sagent Pharmaceuticals

Sagent Pharmaceuticals Inc (NASDAQ:SGNT) has skyrocketed by more than 39% today after the company announced that it has agreed to be acquired by Japan’s Nichi-Iko Pharmaceutical for $736 million, or $21.75 per share in cash. The transaction has been unanimously approved by the Board of Directors of both companies. In a joint statement, Sagent Pharmaceuticals and Nichi-Iko Pharmaceutical said that the deal would bring together two generics drugmakers, creating attractive growth opportunities. Out of the over 750 active funds in our database, 12 held long positions in Sagent Pharmaceuticals Inc (NASDAQ:SGNT) at the conclusion of the first quarter.

HPE Considering the Sale of Software Assets

Investors are watching Hewlett Packard Enterprise Co (NYSE:HPE) this morning after a Bloomberg report claimed that the company is considering selling some of its software assets to trim its operations. This step, if executed, would be a part of HPE CEO Meg Whitman’s plan to reduce the company’s overall size of operations to better compete with rivals like Dell. The report claimed that the rumored selloff is expected to affect the assets which were acquired by HPE over the last decade, including Autonomy, Mercury Interactive, and Vertica Systems.

David Cohen and Harold Levy’s Iridian Asset Management is one of the notable hedge funds that we track which had a stake in Hewlett Packard Enterprise Co (NYSE:HPE) at the end of the first quarter. It had more than 27.51 million shares of the company at that time.

AstraZeneca Planning to Bid for Medivation

Medivation Inc (NASDAQ:MDVN) is making noise today after a report published by the Sunday Times over the weekend claimed that London-based pharmaceutical company AstraZeneca is considering submitting a bid to acquire the company. Among the other candidates already lined up to acquire the San Francisco-based drug maker are Sanofi SA (ADR) (NYSE:SNY), Pfizer Inc. (NYSE:PFE), and Celgene Corporation (NASDAQ:CELG). The Sunday Times source added that no formal bid by AstraZeneca has been brought to the table yet.

A total of 49 hedge funds in our database were bullish on Medivation Inc (NASDAQ:MDVN) at the end of the first quarter. Fred Knoll’s Knoll Capital Management owns about 4.39 million shares of the company as of March 31.

Disclosure: None