Scalper1 News
AbbVie (ABBV) agreed late Wednesday to pay $21 billion to acquire Pharmacyclics (PCYC), maker of blockbuster blood cancer drug Imbruvica. AbbVie will pay $261.25 per share in cash and stock. That’s 13% above Pharmacyclics’ closing price on Wednesday. But the biotech closed up 6.3% to a record high Wednesday on buyout buzz — and that followed a 16.9% spike on Feb. 25 on previous takeover talk. AbbVie’s offer is 39% above Pharmacyclics’ stock as of Scalper1 News
Scalper1 News