Why Cerevel Therapeutics Holdings Is Moving After-Hours
Portfolio Pulse from Ryan Gustafson
Cerevel Therapeutics Holdings Inc (NASDAQ:CERE) shares rose in after-hours trading following the announcement that AbbVie Inc. (NYSE:ABBV) will acquire the company for approximately $8.7 billion. AbbVie will purchase all outstanding CERE shares at $45 each in cash, with the deal expected to close in mid-2024. AbbVie's CEO highlighted the acquisition's enhancement to their neuroscience portfolio and potential for significant growth and multibillion-dollar sales across Cerevel's assets.
December 06, 2023 | 10:14 pm
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AbbVie's planned acquisition of Cerevel Therapeutics for $8.7 billion is expected to enhance its neuroscience portfolio and drive future growth.
AbbVie's acquisition of CERE is seen as a strategic move to strengthen its neuroscience portfolio, which could lead to positive investor sentiment and potential stock price increase in the short term.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
POSITIVE IMPACT
Cerevel Therapeutics' stock surged after-hours due to AbbVie's acquisition announcement at $45 per share, a premium to the current trading price.
The acquisition announcement typically leads to a rise in the stock price of the company being acquired, especially when the purchase price is at a premium to the current trading price. CERE's after-hours price increase reflects investor optimism about the deal.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100