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Shares of Alder BioPharmaceuticals Inc.
ALDR, + 83.90%
Monday, after the developer of the migraine treatment eptinezumab had agreed to be bought by the Danish company H. Lundbeck A / S
HLUYY, -0.89%
MON, -2.00%
in a transaction valued at $ 1.95 billion. The trading volume was already 4.6 million shares higher one hour before the opening, while the average daily average was 638,000 shares. Under the terms of the agreement, Lundbeck will begin a public tender offer of 18 USD per Alder share outstanding, 79% more than Friday's closing price of 10.06 USD. Alder Shareholders will also receive a CVR entitlement of $ 2 per share if Alder's eptinezumab is approved by the European Medicines Agency (EMA). At $ 20 per share, Alder's market capitalization would be $ 1.67 billion. Alder's stock has not closed at $ 20 or more since May 2017. The stock has lost 44.7% over the past 12 months, while the stock market has not sold at all. ETF iShares Nasdaq Biotechnology
BWI + 0,90%
lost 11.5% and the S & P 500
SPX, -0.31%
gained 3.5%.
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