Amgen punts nearly $4 billion to acquire rare diseases company

4 August 2022

US biotech giant Amgen (Nasdaq: AMGN) today announced it has entered into a definitive agreement to acquire ChemoCentryx (Nasdaq: CCXI) for $52 per share in cash, representing an enterprise value of around $3.7 billion.

The transaction, which is one of the biggest M&A deals announced so far this year, is expected to close in the fourth quarter of 2022.

The offer price is a premium of nearly 116% to ChemoCentryx stock's closing price on Wednesday. Shares of ChemoCentryx, which were down nearly 34% this year as of last close, more than doubled in value to trade at $51.40 before the bell.

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