Shares of Alexion Pharmaceuticals, Inc. (ALXN) are down more than 5 percent or $5.37 in Tuesday's morning trade at $98.47. The stock has traded in a range of $72.67 to $136.51 in the past 52 weeks.
Alexion Pharma has agreed to acquire Portola Pharmaceuticals, Inc. (PTLA), a commercial-stage biopharmaceutical company focused on life-threatening blood-related disorders, the two companies said Tuesday.
A subsidiary of Alexion will commence a tender offer to acquire all of the outstanding shares of Portola's common stock at a price of $18 per share.
Following successful completion of the tender offer, Alexion will acquire all remaining shares not tendered in the offer at the same price of $18 per share through a merger. The transaction is expected to close in the third quarter of 2020.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.