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Big-cap biotech Alexion Pharmaceuticals on Wednesday agreed to pay $8.4 billion in cash and stock for fellow rare-disease specialist Synageva BioPharma, a price that investors greeted with trepidation. Alexion’s stock fell 8% to close at 155.01, while Synageva’s soared 112% to 203.39. Alexion (ALXN) agreed to pay $115 in cash and 0.6581 Alexion share for every Synageva (GEVA) share, which at Alexion’s nine-day volume-weighted average closing price Scalper1 News
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