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Ardea Biosciences Inc. (RDEA) Set A New High Following Merger Announcement

AstraZeneca (AZN) announced Monday morning that it agreed to acquire Ardea Biosciences Inc. (RDEA) for $32 per share, or approximately $1.26 billion.

Ardea Biosciences gapped open dramatically higher Monday, but traded in a narrow range throughout the session. Shares finished up by 10.78 at $31.62 on the highest volume of the year. The stock surged to a new high for the year.

by RTTNews Staff Writer

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