Merrill maintains Angiotech at neutral

Angiotech Pharmaceuticals Inc. maintained its neutral rating by Merrill Lynch analyst Hari Sambasivam on news that the company agreed to acquire American Medical Instruments Holdings for $785 million in cash. Angiotech will fund the purchase using existing cash plus a total debt amount of $600 million. Shares of the Vancouver, B.C., pharmaceutical company were up $1.84, or 13.14%, at $15.84 on volume of 3,180,486 shares versus the three-month running average of 522,736 shares. (Nasdaq: ANPI)

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