Why Is Rare Liver Disease Focused Intercept Pharmaceuticals Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Italy-based Alfasigma has agreed to acquire Intercept Pharmaceuticals Inc (NASDAQ:ICPT) for $19.00 per share in cash, a premium of 82% to Intercept's closing stock price on September 25, 2023. The acquisition will expand Alfasigma's gastrointestinal and hepatology portfolio and its presence in the U.S. market. The transaction is expected to close by the end of 2023, after which Intercept's common stock will no longer be publicly listed.
September 26, 2023 | 1:30 pm
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Intercept Pharmaceuticals' stock is trading higher due to the acquisition announcement by Alfasigma. The acquisition price is at a premium of 82% to Intercept's closing stock price on September 25, 2023.
The acquisition announcement by Alfasigma has led to a surge in Intercept Pharmaceuticals' stock price. The acquisition price is significantly higher than Intercept's recent closing price, which is likely driving the stock's upward movement.
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