Alpine Immune Sciences Shares Rally After Vertex Agrees to Acquire Co.
By Stephen Nakrosis
Shares of Alpine Immune Sciences were trading sharply higher in Wednesday's after-hours market, following news Vertex Pharmaceuticals agreed to acquire the company in a $4.9 billion deal.
Alpine Immune shares were trading 37% higher in the late-trading market, at $64.34, just under the $65 a share offer from Vertex. The shares ended the day's regular trading with a 21% gain, closing at $47.04.
Earlier Wednesday, Alpine Immune shares hit their highest level since 2015 at $47.84 per share.
After the bell, shares of Vertex Pharmaceuticals has lost just over 1%, to trade at $393.24. They ended the day's regular session with a loss of 1.7%, to close at $397.58.
The deal was unanimously approved by the boards of both companies, and is expected to close later this quarter.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 10, 2024 17:40 ET (21:40 GMT)
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