AMAG Pharmaceuticals (NASDAQ:AMAG) jumps 41% after hours in apparent response to rumors that Apollo Global (NYSE:APO) portfolio company Covis Pharma is about to acquire the company.
Covis is a Netherlands-based specialty pharmaceutical company that only months ago was purchased by Apollo for an undisclosed sum.
It's been a rough few years for AMAG, which was a $70 stock in 2015, and closed below $10 today, with a market cap of about $320M. Earlier in 2020, its COO and CFO both exited the company.
https://seekingalpha.com/news/3618628-amag-pharma-up-41-on-takeover-rumor
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