HBV play OnCore to merge with Tekmira

Tekmira Pharmaceuticals Corp. (TSX:TKM; NASDAQ:TKMR) surged $8.98 (57%) to $24.68 on Monday after announcing plans to merge with OnCore Biopharma Inc. (Doylestown, Pa.).

Under the proposed merger, OnCore would become a wholly owned subsidiary of Tekmira and would hold about 50% of Tekmira's outstanding shares. The companies did not disclose detailed financial terms, but said the merger values the combined company at about $750 million, based on Tekmira's Jan. 9 close of $17.50. ...