ChemoCentryx surges on $3.7 bln buyout deal from Amgen

Churchill Capital XI

04/08/2022 13:54

** ChemoCentryx Inc's shares  CCXI.O  surge 108.2% to $50.30
before the bell
    ** Amgen Inc  AMGN.O  will buy CCXI in $3.7 bln in all-cash
deal to gain access to the company's anti-inflammation drug
 urn:newsml:reuters.com:*:nL4N2ZG35G
    ** AMGN will pay CCXI shareholder $52 per share in cash,
which is a 116% premium to CCXI's last close of $24.11
    ** AMGN shares up 0.25% premarket
    ** Deal is expected to be completed in Q4 2022
    ** Up to Wednesday's close, CCXI stock down ~34% YTD, while
AMGN was up nearly 10% YTD

 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))