Maybe it has something to do with the time difference in Europe.
On Friday, Spain's Grifols issued a press release confirming that on Wednesday it completed its $4 billion acquisition of Talecris Biotherapeutics. Employees, Wall Street investors and just about anyone else who cared, of course, knew it was a done deal two days ago.
Next week, CEO Victor Grifols is scheduled to visit the Triangle to meet with his newest employees: Talecris' more than 2,000 local workers. They'll be eager to hear his plans to combine the companies. The acquisition is expected to spur job cuts, as Grifols consolidates operations to boost profits.
There's some consolation. Most Talecris employees received shares in the company's Sept. 2009 initial public offering, when the stock started trading at $19.
Talecris shares last traded on Tuesday at $28.80, up more than 80 percent since the Grifols acquisition was announced a year ago.
Under the terms of the Grifols deal, Talecris investors got $19 in cash, essentially cashing out their original shares if they got in at the IPO price. They also became proud Grifols shareholders: For every Talecris share, they got the equivalent of 1.297 Grifols new American depositary receipts, which began trading on the Nasdaq on Wednesday.
Those ADRs, which are similar to common shares for foreign companies, closed Friday at $7.40, down 25 cents.