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RETA Stock is up by 54% since its acquisition news surfaced.
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Biogen Inc. is acquiring Reata Pharmaceutical Inc. for $7.3 Billion.
Reata Pharmaceuticals (NASDAQ: RETA) is soaring 54.02%, riding on the news of being acquired by Biogen Inc. (NASDAQ: BIIB) for $7.3 Billion. Reata had recently made strides in developing therapeutics to regulate cellular metabolism and inflammation caused by severe neurological diseases. Moreover, Reata’s FDA-approved SKYCLARYS is the pioneering approved treatment for Friedreich’s ataxia (FA) in the U.S. and Biogen wishes to leverage this innovation.
Reata Pharmaceuticals Inc. (RETA) Stock: Financial Analysis
Biogen offers to buy RETA Stocks for $172.50 per share in cash, representing a premium of about 58.9%. Hence, it takes the acquisition costs to $7.3 Billion. The Board of Directors of both companies seems to be happy with the deal and awaits a nod from the regulators.
If the regulators agree to the acquisiti
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