InSite, Sun Pharmaceutical deal

Sun’s Ranbaxy Inc. subsidiary will acquire InSite for $0.35 per share or about $48 million. The price is a 3% premium to InSite’s close of $0.34 on Sept. 14, the day before the deal was announced, and a 150% premium to the company’s close of $0.14 on June 5, before InSite agreed to be acquired by QLT Inc. (TSX:QLT; NASDAQ:QLTI, Vancouver, B.C.) for $0.18 per share. ...