ImmunoGen jumps on $10.1 billion acquisition deal with AbbVie

ImmunoGen

30/11/2023 13:11

** ImmunoGen Inc' shares  IMGN.O  rise 83.6% to $29.9 
    ** IMGN says AbbVie  ABBV.N  to acquire the company along
with its approved flagship ovarian cancer therapy in an all-cash
deal of $10.1 billion
    ** The acquisition accelerates ABBV's commercial and
clinical presence in the solid tumor space - IMGN
    ** Under the transaction, ABBV will acquire all outstanding
shares of IMGN for $31.26 per share in cash, which is a 94.6%
premium to its last close
    **  Transaction is expected to close in the middle of 2024
    ** Up to Wednesday's close, IMGN's stock has more than
tripled YTD

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