Drugmaker Biogen (BIIB.O) will buy all outstanding shares of Sage Therapeutics (SAGE.O) that it does not already own for $7.22 apiece, a filing showed on Friday, sending the latter’s stock up 34% in extended trade. As per the filing, Biogen has a 10.2% stake in Sage Therapeutics. The offer price, representing a 30% premium to the stock’s close on Friday, values Sage’s equity at $441.7 million, according to Reuters calculations.
Read the full article: Biogen Proposes to Buy Remaining Stake in Sage in $442M Deal //
Source: https://www.reuters.com/markets/deals/biogen-proposes-buy-remaining-stake-sage-442-million-deal-2025-01-10/