ImmunoGen shares are trading higher after AbbVie announced it will acquire the company in a transaction valued at $31.26 per share in cash.
Portfolio Pulse from Benzinga Newsdesk
AbbVie is set to acquire ImmunoGen for $31.26 per share in cash, causing ImmunoGen's stock to trade higher.
November 30, 2023 | 1:46 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
ImmunoGen's stock is trading higher following the acquisition announcement by AbbVie at $31.26 per share in cash.
The acquisition announcement typically leads to a positive short-term impact on the stock price of the company being acquired, as the offer price is usually at a premium to the current trading price. In this case, ImmunoGen's stock is likely to move towards the acquisition price of $31.26 per share.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
NEUTRAL IMPACT
AbbVie's stock may see short-term movement due to the announcement of acquiring ImmunoGen for $31.26 per share in cash.
AbbVie's stock may experience short-term volatility as markets digest the financial and strategic implications of the acquisition. The impact is generally less pronounced for the acquiring company compared to the company being acquired.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80