Shares of New York-based Omrix Biopharmaceuticals shot up on a report in the Israeli-based Globes that a New York hedge fund had offered to acquire the biotech company for $25 a share--a 13 percent premium on its Friday close. Citing unnamed sources, the Globes report also said that Omrix had rejected a buyout bid by Johnson & Johnson. Omrix does R&D work in Israel. Omrix makes products that control bleeding.
--read the AP report