Why Vivus (VVUS) Stock Is Up Today

NEW YORK (TheStreet) -- Vivus  (VVUS) rose Wednesday after Aspen Investment Fund said it is considering acquiring the pharmaceutical company for $640 million.

The fund disclosed a 9.65% stake in Vivus and announced it could propose a conditional non-binding offer of $640 million, which would be financed with Aspen's working capital and debt from "top tier" investment banks. The fund expects to submit the offer to the board by June 13. 

"Although Aspen Investment Fund currently expects to make an offer, it is under no obligation and provides no assurances it will do so, if there are any material changes to the Issuers operations, financial situation or enterprise value," Aspen said in a 13-D SEC filing.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

For more on this story, read TheStreet's Adam Feuerstein's article here.

Vivus stock was up 4.18% to $4.86 at 11:13 a.m.

VVUS Price Chart

VVUS Price data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

If you liked this article you might like

Insider Trading Alert - MAR, EVER And VVUS Traded By Insiders

Insider Trading Alert - MDSO, KAI And VVUS Traded By Insiders

Insider Trading Alert - OMAM, CBOE And VVUS Traded By Insiders

Insider Trading Alert - SBCF, VVUS And ACN Traded By Insiders

Vivus (VVUS) Strong On High Relative Volume Today