Shares of biopharmaceutical company Morphic Holding, Inc. (MORF) were surging more than 75 percent in pre-market on Monday on the news of it being acquired by Eli Lilly and Company (LLY) for about $3.2 billion.
As per the agreement, Lilly will commence a tender offer to acquire all outstanding shares of Morphic for $57 per share, a premium of about 79 percent to the closing stock price on July 5.
Morphic shares had closed at $31.84, up 0.03 percent on Friday. The stock has traded in the range of $19.34 - $62.08 in the last 1 year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.