Spark Therapeutics shares fly on news of $4.3 billion takeover bid
US biotech start-up Spark Therapeutics (Nasdaq: ONCE) saw its shares rocket 120.62% to $113.75 in pre-market trading this morning, after it was revealed that it had received a takeover bid from Swiss pharma giant Roche (ROG: SIX).
The companies have entered into a definitive merger agreement for Roche to fully acquire Spark Therapeutics at a price of $114.50 per share in an all-cash transaction, corresponding to a total transaction value of around $4.3 billion on a fully diluted basis. The acquisition will transform the Swiss drugmaker from a laggard to a leader in the emerging field of gene therapy.
According to the Financial Times, there was another, unnamed, bidder for Spark.
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