Reta Pharma Shares Resume Trading Following Announcement of Acquisition By Biogen For $172.50/Share in Cash
Portfolio Pulse from Charles Gross
Biogen has announced its acquisition of Reta Pharma for $172.50 per share in cash. Trading of Reta Pharma shares has resumed following the announcement.
July 28, 2023 | 11:37 am
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POSITIVE IMPACT
Biogen's acquisition of Reta Pharma could potentially strengthen its portfolio and market position.
Acquisitions often lead to a short-term increase in the acquiring company's stock price due to potential synergies and increased market share. Therefore, Biogen's stock price is likely to go up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Reta Pharma's shares have resumed trading following the announcement of its acquisition by Biogen.
The acquisition announcement often leads to a short-term increase in the stock price of the company being acquired due to the premium paid by the acquiring company. Therefore, Reta Pharma's stock price is likely to go up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100