Dice Therapeutics jumps on $2.4 billion buyout deal by Eli Lilly

Dice Therapeutics

20/06/2023 12:12

** Drug developer DICE Therapeutics Inc's shares  DICE.O  up
37.4% at $46.50 before the bell
    ** Eli Lilly and Co  LLY.N  will acquire DICE in an all-cash
deal worth about $2.4 bln to help boost Lilly's autoimmune drug
portfolio
    ** Lilly's offer of $48 per share in cash is about 42%
premium to DICE's last close
    ** Companies expect to close deal in third quarter, subject
to regulatory clearances
        ** Up to Monday's close, DICE up 8.5% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))