Lilly to Buy Centessa Pharmaceuticals; Biogen to Buy Apellis; Unilever Foods Exit
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Show Notes
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Lilly (LLY) to buy Centessa Pharmaceuticals for $38/share in cash plus one non-transferrable contingent value right that entitles the holder to get up to an aggregate of $9 subject to the achievement of three milestones.
- Biogen (BIIB) has agreed to acquire Apellis Pharmaceuticals Inc. for $5.6 billion, expanding its treatments in immunology and rare diseases in one of the company’s largest-ever acquisitions.The Cambridge, Massachusetts-based biotech company will pay $41 a share for Apellis, or more than double the company’s closing price on Monday. Apellis’ stock has declined 32% so far this year.
- Unilever (ULVR) said talks to sell most of its food business to McCormick (MKC) are advanced and a final deal could be announced later on Tuesday in a historic move that will transform both companies.The Anglo-Dutch maker of Hellmann’s mayonnaise will offload most of its food unit, excluding some parts like its operations in India, for $15.7 billion cash upfront and the rest in McCormick equity, according to a statement Tuesday.
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