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Esperion Soars on Pfizer Deal

Roto-Rooter climbs; Inspire Pharmaceuticals drops; plus more of today's stock in the news

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December 22, 2003 at 5:00 AM UTC

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Esperion Therapeutics (ESPR ) agreed to be acquired by Pfizer (PFE ) for $35 per share, a 54% premium over Esperion's average closing share price during the last 20 trading days. Esperion has developed a promising experimental cholesterol drug, which could boost Pfizer's line of top-selling cholesterol products, which includes Lipitor. Esperion shares jumped on the news.

CL King upgraded Roto-Rooter (RRR ) to strong buy from accumulate. On Friday, the plumbing-repair company agreed to acquire all shares of Vitas Healthcare it doesn't already own for about $410 million in cash, or $30 per share. Vitas is the nation's largest provider of end-of-life care; CL King calls the deal a transforming acquisition, and set a $60 price target on Roto-Rooter. Shares advanced.