(RTTNews) – Biogen Inc. (BIIB) and Apellis Pharmaceuticals (APLS) announced they have entered into a definitive agreement under which Biogen has agreed to acquire all outstanding shares of Apellis for $41.00 per share in cash at closing, or approximately $5.6 billion. Apellis stockholders will also receive a nontransferable CVR for each Apellis share held, entitling the holder to receive two payments of $2 per share each, contingent on certain annual global net sales thresholds being met for SYFOVRE.
The acquisition is expected to be increasingly accretive to Biogen’s Non-GAAP EPS starting in 2027. The transaction is expected to meaningfully increase Biogen’s non-GAAP EPS compounded annual growth rate through the end of the decade.
In pre-market trading on NasdaqGS, Apellis shares are up 140.5 percent to $41.10.
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