Alexion nabs Synageva to push further into rare diseases
Alexion Pharmaceuticals (Nasdaq: ALXN) has entered into a definitive agreement to acquire fellow USA-based Synageva BioPharma (Nasdaq: GEVA) for a consideration of $115 in cash and 0.6581 Alexion shares, for each share of Synageva.
This implies a total per share value of $230 based on the nine day volume-weighted average closing price of Alexion stock through May 5, 2015. The acquisition will strengthen Alexion’s global leadership in developing and commercializing transformative therapies for patients with devastating and rare diseases. Synageva more than doubled to $219.50 in pre-market trading, while Alexion fell 55 to $160.05.
$8.4 billion transaction value
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