ABBV - Why Soliton Popped While the Market Slid Today
On a gloomy day for the stock market, healthcare aesthetics specialist Soliton (NASDAQ: SOLY) was a luminous bright spot on Tuesday. The company's shares rocketed almost 12% higher, on news that its absorption into soon-to-be-parent AbbVie (NYSE: ABBV) is about to close.
Soliton pointed out in a regulatory filing this morning that the waiting period mandated under law for deals like AbbVie's acquisition expired Monday night. With that out of the way, Soliton believes the acquisition will close "on or about" this Thursday, Dec. 16.
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Why Soliton Popped While the Market Slid Today