Specialty drug maker Horizon Pharma (HZNP) tried to continue its recent acquisition binge Tuesday as it made a hostile all-stock offer for Depomed (DEPO) worth roughly $3 billion, including debt. Depomed stock jumped nearly 40% on the news to a record high, while Horizon Pharma stock, which touched its all-time high on Wednesday, was down 2.5%. Horizon offered $29.25 a share for Depomed, a 42% premium on Monday’s closing price. Horizon’s
Are China’s electric car sales getting a little charged up? Kandi Technologies Group (KNDI), a Chinese maker of budget and car-sharing electric vehicles, has inked a new sales contract worth $89 million that significantly steps up its pace and plumbs the possibilities of online electric car sales. Kandi said Monday that its joint venture with Geely Automobile Holdings, called Kandi Electric Vehicles Group, has signed a sales contract with Zhejiang
Is hybrid car pioneer Toyota Motor (TM) about to give electric car startup Tesla Motors (TM) a run for its money? Toyota’s Mirai hydrogen fuel cell car — an angular midsize sedan expected to sell for $57,500 — will get an EPA-estimated driving range of 312 miles between refuelings, the automaker says. That tops Tesla’s current EPA-rated range of up to 270 miles between rechargings for its Model S plug-in sedan, which starts at $75,000 for the base