Horizon's new CEO arrives amid update on takeover bid by Abcam

9 May 2018

Horizon Discovery’s (LSE: HZD) announcement on the identity of its new chief executive on Tuesday has been followed on Wednesday by a major drop in the share price of the gene editing company.

But the two are not linked, with the reason for Horizon’s stock value plummeting more likely the result of a separate announcement made by Abcam (AIM: ABC), another UK life science research tool specialist.

In mid-April, Abcam made a proposal to acquire Horizon at £1.81 a share, valuing the target firm’s worth at around £270 million ($368 million).

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