Chinook Therapeutics shares are trading higher after Novartis agreed to acquire the company for $40 per share in cash.
Portfolio Pulse from Benzinga Newsdesk
Chinook Therapeutics' stock is up following Novartis' agreement to acquire the company for $40 per share.
June 12, 2023 | 9:58 am
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NEUTRAL IMPACT
Novartis has agreed to acquire Chinook Therapeutics for $40 per share, potentially impacting its stock price.
Novartis' stock price may experience short-term fluctuations due to the acquisition of Chinook Therapeutics. However, the overall impact on the stock price is uncertain as the market digests the news and evaluates the potential benefits of the acquisition.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Chinook Therapeutics shares are trading higher after Novartis agreed to acquire the company for $40 per share.
Chinook Therapeutics' stock price is likely to go up in the short term due to the acquisition agreement with Novartis at a premium price of $40 per share.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100