We recently published 10 Big Names With Whopping Gains; 6 Jump All-Time Highs. Akero Therapeutics, Inc. is one of the best performers on Thursday.
Akero Therapeutics saw its share prices jump by 16.33 percent on Thursday to end at $54.08 apiece following announcements that it was set to merge with Novo Nordisk in a $5.2 billion deal.
In a statement, Akero Therapeutics, Inc. said both companies officially entered into a definitive agreement, under which Novo Nordisk would acquire all AKRO shares at a price of $54 apiece alongside a non-transferable contingent value right (CVR) upon the achievement of a milestone.
Each shareholder will be entitled to receive cash worth $6 upon full US regulatory approval of efruxifermin, a potential treatment for compensated cirrhosis due to MASH, by June 30, 2031.
Akero Therapeutics, Inc. said the offer price represents a 19 percent premium over its 30-day volume-weighted average price (VWAP), and a 42 percent premium to its closing price on May 19, prior to market speculation.
Akero Therapeutics, Inc.’s EFX program, focused on developing treatment for MASH, would complement Novo’s leadership in GLP-1-based metabolic treatments.
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This article is originally published at Insider Monkey.
