Akorn, Hi-Tech Pharmacal deal

Akorn will acquire generics company Hi-Tech for $640 million in cash, or $43.50 per Hi-Tech share. The price is a 24% premium to Hi-Tech's closing price of $35.21 on Aug. 26, before the deal was announced. Akorn said Hi-Tech's acquisition will add cough, cold, nasal and topical OTC products to Akorn's TheraTears brand of eye care products. ...