Chattem Volume Already Exponential on Buyout (CHTT)

Posted in pre-market 
December 21st, 2009

Chattem Inc. (NASDAQ: CHTT) is soaring now that the company is finally being acquired after years of it being a potential acquisition.  The consumer products and over the counter health products company is being acquired by Sanofi Aventis for $1.9 billion or $93.50 per share.  Shares were halted earlier this morning and at 8:34 AM EST we have seen shares trading up 32% at $92.89 on over 450,000 shares.  Its 52-week trading range was $50.10 to $71.95 and the average daily stock volume is only 213,000 shares.

-JON OGG

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