GRFS - Adma Biologics activist said to support strategic review

Adma Biologics (NASDAQ:ADMA) activist holder Caligan Partners is said to be supportive of the company's ongoing strategic review. Adma rose 1.5.%. The activist would support a sale of the company for at least $3/share, according to a Dealreporter item, which cited sources familiar. Potential logical bidders could include CSL Behring (OTCPK:CSLLY), Grifols (NASDAQ:GRFS) Takeda's Shire, and Octapharma. Private equity could also express interest. Caligan Partners disclosed owning a 5.6% percent stake in a 13D filing last week and said that they believe ADMA shares are undervalued and represent an attractive investment opportunity. Adma (ADMA) announced in late October that it tapped Morgan Stanley to explore strategic and financial alternatives for the company. Last month, ADMA biologics expects record preliminary 4Q and FY21 revenues to be above the consensus.

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Adma Biologics activist said to support strategic review