MSMB capital offers $ 378 M to Amag Pharma

New York-based hedge fund MSMB Capital Management has offered an unsolicited proposal for Amag pharmaceuticals to get all its outstanding stock for $ 378 million, or $ 18 per share in cash.

In a letter to the Amags Board on Tuesday, Martin Shkreli, said the company's chief investment officer MSMB offer stems from his rejection of Amags recently proposed merger with Colorado-based drug developer, Allose Therapeutics.

Shkreli also said MSMB, a long-term investor in Amag, believes that the current management strategy "does not protect shareholders ' interests and ensure Amags Amags long-term viability."

He said since hedge fund proposal is contingent upon export performance to reach an agreement with Amag before 1 September.

Amag, Massachusetts-based manufacturer of anemia drugs, replied MSMB letter by saying its Board of Directors will carefully consider and evaluate "MSMB proposals and will inform the Amag shareholders its position.

Portent offers LightSquared games for exercise

Hedge fund manager Phil Falcone, who invested a lot in the development of a next-generation wireless networks through his stake in startup LightSquared, hope his investors will agree with him as he Rides the bet.

Founder of 6 billion dollars, Harbinger Capital Partners says redeeming investors that a proportion of their claims will be paid in special vehicles which tracks the Lightsquareds value.

A spokesman for the Harbinger declined to comment.

Falcone is particularly keen to retain as much of his Fund's money as possible in their wireless companies invested as LightSquared reportedly is about to sign an agreement to pay Sprint Nextel 20 billion dollars over 15 years of Sprint's existing network.

While some investors might not pleased that their liquidity is further bound, where Falcone's gamble pays off, they were able to do very well.

At a recent New York Investor Conference said Falcone LightSquared "will be public for a day".

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