Drugmaker King Pharmaceuticals Inc. (NYSE: KG) offered to buy Alpharma Inc. (NYSE: ALO) for $1.4 billion in order to expand its line of pain treatments. Shares of Alpharma jumped $10.42 to $34.46 while King Pharmaceuticals stock edged up 87 cents to $12.11.
King Pharmaceuticals Offers $1.4 Billion For Alpharma
August 22, 2008 at 13:56 PM EDT
