Liminal BioSciences Stock Gains 40% Today - Here's Why?
Portfolio Pulse from Vandana Singh
Liminal BioSciences Inc's (NASDAQ:LMNL) shares are trading higher after Structured Alpha, a fund managed by Thomvest Asset Management, agreed to acquire the company. The acquisition price is $8.50 per share, a 135% premium over Liminal's closing share price on April 4. BMO Capital Markets provided a formal valuation of Liminal's shares, indicating a fair market value range of $5.00-$15.00 as of July 11, 2023.
July 12, 2023 | 4:39 pm
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Liminal BioSciences' shares are trading higher due to the acquisition agreement with Structured Alpha. The acquisition price represents a significant premium over the recent closing price.
The acquisition agreement with Structured Alpha has led to a surge in Liminal BioSciences' share price. The acquisition price of $8.50 per share is significantly higher than the recent closing price, which is likely to have a positive impact on the stock in the short term.
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IMPORTANCE 90
RELEVANCE 100