Tourmaline Bio Inc. (TRML) announced Tuesday that it has agreed to be acquired by Novartis AG (NVS,NOVN.SW) for $48.00 per share in cash at closing, representing a total equity value of about $1.4 billion. The deal price represents a premium of 59% to Tourmalines closing stock price on September 8, 2025, the last trading day before the announcement of the transaction. The transaction has been unanimously approved by the Boards of Directors of both companies.
TRML closed Monday's regular trading at $30.18 up $3.44 or 12.86%. In the after-hours trading the stock further gained $5.31 or 17.59%.
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