Global Blood Therapeutics Shares Rise Premarket After Pfizer Deal
By Colin Kellaher
Shares of Global Blood Therapeutics Inc. edged higher in
premarket trading Monday after the biopharmaceutical company agreed
to be acquired by Pfizer Inc. in a transaction valued at about $5.4
billion, including assumed debt.
New York-based Pfizer said it would pay $68.50 a share in cash
for Global Blood, a 7.3% premium to Friday's closing price of
$63.84 but more than double its closing price of $33.93 on Aug. 3,
before published reports emerged that potential buyers were
circling the South San Francisco, Calif., company.
Global Blood shares, which ended Friday's session with a gain of
33%, were recently changing hands at $66.36, up 4%.
Write to Colin Kellaher at firstname.lastname@example.org
(END) Dow Jones Newswires
August 08, 2022 07:14 ET (11:14 GMT)
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