Icahn Unveils Tender Offer For Vivus' Debt

Carl Icahn’s Icahn Enterprises through its subsidiary IEH Biopharma LLC unveiled a tender offer on Wednesday to buy up all of Vivus’ convertible notes at a price of $680 for each $1,000 note.

Reacting favorably to the announcement, obesity company Vivus shares jumped 13% to $1.35 on Wednesday.

Icahn into biopharma again

IEH Biopharma LLC, a subsidiary of Icahn Enterprises L.P., announced on Wednesday a cash tender offer for any and all of the outstanding 4.50% Convertible Senior Notes due 2020 of struggling obesity drugmaker Vivus,  Inc. at a price of $680 for each $1,000 of principal amount...