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Forma Therapeutics Shares Surge on Takeover by Novo Nordisk


By Colin Kellaher

 

Shares of Forma Therapeutics Holdings Inc. took flight Thursday after the clinical-stage biopharmaceutical firm agreed to be acquired by Denmark’s Novo Nordisk AS for about $1.1 billion.

Novo stated it might pay $20 a share in money for Forma, about 49% above Wednesday’s closing value of $13.40 for the Watertown, Mass., firm and a greater than 90% premium to Forma’s 30-day volume-weighted common share value.

The deal is slated to shut by the top of the 12 months.

Forma shares had been just lately altering arms at $19.79, up practically 48%.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

September 01, 2022 10:04 ET (14:04 GMT)

Copyright (c) 2022 Dow Jones & Firm, Inc.



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