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| Name | Symbol | Market | Type |
|---|---|---|---|
| Novartis AG | NYSE:NVS | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.07 | -0.07% | 97.27 | 97.91 | 97.07 | 97.75 | 1,045,674 | 01:00:00 |
From May 2019 to May 2024
By Cara Lombardo
ACQUIRER: Switzerland-based Novartis AG (NVS)
TARGET: Illinois-based AveXis Inc. (AVXS)
PRICE: $8.7 billion in cash. Novartis will pay AveXis shareholders $218 a share, about an 88% premium to AveXis's Friday closing price.
RATIONALE: Novartis is expanding its bet on gene therapy and hoping a promising drug AveXis is developing for therapies aimed at spinal muscular atrophy will become a blockbuster.
STATUS: Both companies' boards have unanimously approved the deal agreement.
EXPECTED CLOSE: Mid-2018.
STOCK MOVES: AveXis shares are up 77% midday Monday. Novartis shares trading in New York rose 0.9%.
Write to Cara Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
April 09, 2018 11:45 ET (15:45 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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