Why AbbVie Stock Jumped Today
An intriguing acquisition could bring exciting new drugs into the medicine maker's development pipeline.
Why AbbVie Stock Jumped Today
Overview
Shares of AbbVie (NYSE: ABBV) climbed on Monday after the pharmaceutical giant struck a deal to acquire clinical-stage biotech Apogee Therapeutics (NASDAQ: APGE) for $10.9 billion.
Image source: The Motley Fool.
Under the terms of the deal, AbbVie would purchase Apogee for $135.11 per share in cash. That's a 49% premium over the stock's closing price on Thursday, the last trading day before the deal's announcement.
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Originally published at www.fool.com.
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