Shares of Alexion Pharmaceuticals, Inc. (ALXN) are currently surging over 30% after AstraZeneca agreed to acquire the company.
ALXN is currently trading at $157.77, up $36.79 or 30.41%, on the Nasdaq.
AstraZeneca will pay around $175 per share for Alexion, through a combination of cash and shares, valuing the Boston-based group at $39 billion. This represents about 45% premium to Alexion's Friday closing price.
Alexion shareholders will own around 15% of AstraZeneca's outstanding shares when the deal closes in the third quarter of next year.
Alexion lifted its 2020 revenue guidance in October, and set a 2025 target of between $9 billion and $10 billion in annual sales.
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