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DUBLIN - J.P. Morgan Securities Plc disclosed its dealings in Avadel Pharmaceuticals plc securities as part of its role as financial advisor to Alkermes plc, according to a regulatory filing released Tuesday.
The disclosure, made under the Irish Takeover Panel Act rules, reveals that J.P. Morgan executed borrowing transactions involving Avadel’s ordinary shares on November 24. The filing shows the firm borrowed and returned 22,700 shares, with no purchases or sales of securities reported.
The disclosure is required under Rule 38.5(a) of the Irish Takeover Rules, which mandates transparency from connected exempt principal traders with recognized intermediary status when dealing in a client-serving capacity.
J.P. Morgan confirmed in the filing that it has no indemnity arrangements, agreements, or understandings relating to options or derivatives regarding Avadel securities.
The filing identifies J.P. Morgan as connected to the offer through its role as financial advisor to Alkermes plc, suggesting ongoing corporate activity involving Avadel Pharmaceuticals.
The disclosure was submitted to the Irish Takeover Panel, which oversees merger and acquisition activity for Irish-registered companies.
This information is based on a regulatory press release statement filed with the Regulatory Information Service.
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