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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Amgen Inc | NASDAQ:AMGN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.79 | 0.28% | 278.16 | 277.62 | 279.00 | 1,089 | 13:32:36 |
By Colin Kellaher
Amgen Inc. (AMGN) on Wednesday said it plans to buy Danish biotechnology company Nuevolution AB (NUE.SK) for about $167 million in cash.
The Thousand Oaks, Calif., biotechnology company said it will offer 32.50 Swedish kroner in cash for each share of Nuevolution, a roughly 169% premium to Tuesday's closing price of SEK12.10.
Shares of Nuevolution surged to SEK32.20 on Wednesday.
Amgen said Nuevolution's board recommends the offer, adding that holders of about 59% of Nuevolution's shares have agreed to accept the deal. Amgen said the offer, which it will fund with cash on hand, will begin around June 13.
Amgen and Nuevolution formed a multi-target collaboration in October 2016, and Amgen has exercised its contractual opt-in right for two cancer programs under the agreement.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 22, 2019 06:44 ET (10:44 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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