Japan's Astellas Pharma to buy Audentes Therapeutics for $2.7 billion

(Reuters) – Japan’s Astellas Pharma Inc (T:) said on Monday it had agreed to buy Audentes Therapeutics Inc (O:) for $2.7 billion in cash as it looks to bolster its position in the gene therapy market.

Astellas offer of $60 per share represents a 110% premium to Audentes closing price on Monday.

The deal is expected to close in the first quarter of 2020, the companies said in a statement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.