Acquisition Pact Boosts McGaw Stock

McGaw Inc.’s stock soared 41.9% on the Nasdaq market Thursday, a day after the Irvine supplier of intravenous solutions, bags and pumps said it will be acquired by a Florida drug manufacturer.

McGaw, which began selling stock publicly last February, announced Wednesday that it signed an agreement to become a wholly owned subsidiary of IVAX Corp. of Miami in a stock swap valued at $440 million. Accounting for an assumption of McGaw’s $150 million in debt, IVAX would pay nearly $600 million.

McGaw’s stock closed at $15.25 a share Thursday, up $4.50. When McGaw made its initial public offering, the stock was priced at $8 a share.

IVAX stock, traded on the American Stock Exchange, closed at $28.25 a share Thursday, up 12 1/2 cents.