Top VIVUS, Inc. Shareholder Plans To Buy Company In $640 Million Deal

Vivus Inc's (VVUS.O) biggest shareholder said it was planning to buy the obesity drug maker in a deal valued at $640 million, the latest shareholder attempt to revive a company that has struggled to boost sales of its key drug. Aspen Investment Fund, which reported a 9.65 percent stake in Vivus on Wednesday, said it expects to submit its non-binding offer to the company by June 13. The investment fund did not disclose the terms of the offer. Vivus had a market value of about $482 million as of Tuesday's close and debt of about $269 million.

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