* U.S. specialty drugmaker Akorn Inc is exploring a bid for Belgian drugmaker UCB SA's U.S. subsidiary, a deal that would allow the company to move its tax domicile overseas in a practice known as inversion, according to people familiar with the matter.
Akorn: Shares higher on speculation from Reuters that the company was exploring a potential $2 bln inversion deal with Kremers Urban Pharmaceutical; Buy -- Gabelli & Co.
Gabelli & Co. notes, AKRX rose 3.4% yday following speculation from Reuters that co was exploring a potential $2 bln inversion deal with Kremers Urban Pharmaceutical, a US specialty generics subsidiary of Belgian-based pharmaceutical company, UCB. Firm continues to recommend co and expect co's mgmt to maintain its successful track record of doing value-creating deals within the generic and specialty pharmaceutical markets. Firm would expect an inversion deal to be accretive to current estimates and to serve as a catalyst for the stock.