Notable Stock Gainers: CRMB, AUPH, ECVT
2:55 pm Friday, January 28th, 2022
Rosedale Federal Savings & Loan Association to acquire CBM Bancorp (OTC:CBMB) the Baltimore, Maryland, based holding company and parent of Chesapeake Bank of Maryland, in an all-cash transaction for an aggregate purchase price of $64.4M. Stockholders of CBM Bancorp will be entitled to receive $17.75 in cash for each share they own. The merger is expected to be consummated during the H1 2022.
Aurinia Pharmaceuticals (NASDAQ:AUPH) reversed an earlier decline as is now up 0.6% after renewed speculation that Biogen (NASDAQ:BIIB) could be a possible acquirer of the company. The speculation in Dealreporter’s morning piece comes after Biogen last night announced it agreed to sell a stake in Samsung Bioepis for more than $2B. Some potential targets for Biogen include Aurinia, Neurocrine Bioscience (NASDAQ:NBIX) and Biohaven Pharmaceutical (NYSE:BHVN), the report speculated.
Shares of Ecovyst (NYSE:ECVT), formerly known as PQ Group Holdings, rose 6.7% on a report that it’s working Goldman Sachs to explore a sale. The chemicals company is in discussions with a small group of possible acquirers, largely private equity firms, according to a Dealreporter item. Strategic interest is likely to be limited, though W.R. Grace appears to be a logical suitor.
