Biogen’s stock surges after Samsung reports negotiations to buy in a deal worth more than $ 40 billion

Date:

Biogen Inc.Stocks
BIIB,
+ 9.50%

Trading up 8.9% on Wednesday afternoon Korea Economic Daily reported A US-based pharmaceutical company has indicated that South Korea-based conglomerate Samsung Group is in talks to buy Biogen in a transaction that could value about $ 42 billion. That’s an 11% premium to Biogen’s current market capitalization of about $ 37.88 billion. Citing investment banking sources, the report said Biogen approached Samsung on a deal to sell shares worth more than 50 trillion won. Back in 2011, Samsung and Biogen have agreed to establish a joint venture Develop biopharmacy. SPDR Healthcare Select Sector ETFs have increased their stake in Biogen by 5.0% so far.
XLV,
+ 0.64%

S & P 500, up 24.5%
SPX,
+ 0.20%

It is 27.6% ahead.

Biogen’s stock surges after Samsung reports negotiations to buy in a deal worth more than $ 40 billion

Source link Biogen’s stock surges after Samsung reports negotiations to buy in a deal worth more than $ 40 billion

The post Biogen’s stock surges after Samsung reports negotiations to buy in a deal worth more than $ 40 billion appeared first on Eminetra.

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