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Equity > Corporate Actions > BSE Announcements
Aravali Sec.&Fin
Aravali Securities & Finance will hold a meeting of the Board of Directors of the Company on 14 November 2018.
Assam CO. (I)
Assam Company (India) will hold a meeting of the Board of Directors of the Company on 14 November 2018.
Blue Blends (I)
Blue Blends (India) will hold a meeting of the Board of Directors of the Company on 14 November 2018.
Cipla
InvaGen Pharmaceuticals Inc. (InvaGen), a subsidiary of Cipla, announced that it has entered into definitive agreements with two closing stages for a proposed acquisition of Avenue Therapeutics, Inc. (NASDAQ: ATXI) (“Avenue”), a Fortress Biotech (NASDAQ: FBIO) company focused on the development and commercialization of intravenous (IV) Tramadol. The transaction will be subject to Avenue stockholders' and regulatory approvals, and other closing conditions.

At the first stage closing, InvaGen or its affiliates will acquire, through the issuance by Avenue of new shares, shares representing a 33.3% stake in Avenue's capital stock on a fully diluted basis for $35 million. Based on current assumptions, such stake is expected to consist of 5,833,333 shares of Avenue's common stock issued at $6.00 per share. Simultaneously with the closing of the stock issuance, InvaGen or its affiliates will appoint three members (including one independent) on Avenue's seven-member Board of Directors.

At the second stage closing, InvaGen or its affiliates will acquire the remaining shares of Avenue's common stock, pursuant to a reverse triangular merger with Avenue remaining as the surviving entity, for up to $180 million in the aggregate, which is currently expected to represent approximately $13.92 per share, subject to certain terms to be outlined in the Form 8-K and proxy statement to be filed by Avenue with the SEC in connection with the proposed transactions. The second stage closing is subject to the satisfaction of certain closing conditions, including conditions pertaining to US FDA approval, labeling, scheduling and the absence of any REMS or similar restrictions in effect with respect to IV Tramadol.

Eicher Motors
The Board of Eicher Motors at its meeting held on 12 November 2018 has appointed Inder Mohan Singh as an Independent Director on the Board of the Company with effect from 12 November 2018
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