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LONDON - Morgan Stanley & Co. International plc disclosed Thursday it conducted matched purchases and sales of Avadel Pharmaceuticals plc (NASDAQ:AVDL) shares on October 22, according to a regulatory filing with the Irish Takeover Panel.
The filing, made under Rule 38.5(a) of the Irish Takeover Panel Act, shows Morgan Stanley traded 33,364 ordinary shares of Avadel Pharmaceuticals, with purchase prices ranging from $18.5106 to $18.5650 per share. The sales involved the same number of shares within the identical price range.
Morgan Stanley identified itself as an exempt principal trader with recognized intermediary status dealing in a client-serving capacity. The firm confirmed its connection to Avadel Pharmaceuticals in the disclosure.
The transactions were reported in compliance with Irish takeover regulations that require disclosure of dealings by connected exempt principal traders. The filing indicated no indemnity arrangements or agreements relating to options or derivatives were in place between the parties.
This disclosure comes as part of standard regulatory requirements for financial institutions involved with companies potentially subject to takeover activities, based on the press release statement.
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