J&J bids $6.5 billion for Momenta
Shares of US biotech Momenta Pharmaceuticals (Nasdaq: MNTA) raced up 70% to $52.44 in pre-market trading this morning, after it was revealed that it had agree to be acquired by healthcare giant Johnson & Johnson (NYSE: JNJ).
Under the definitive agreement, J&J will buy the company in an all cash transaction for $52.50 per share, representing a total equity value of $6.5 billion and a 70% premium to Momenta’s closing price on August 18, 2020
This acquisition provides an opportunity for the J&J Janssen Pharmaceutical Companies to broaden leadership in immune-mediated diseases and drive further growth through expansion into autoantibody-driven disease.
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