We recently published Ten companies in the spotlight. Amicus Therapeutics, Inc. (NASDAQ:FOLD) is one of Friday’s best performers.
Amicus Therapeutics soared to a new 52-week high on Friday, jumping 30.21 percent to close at $14.18 apiece, as investors devoured shares following announcements that it would merge with Biomarin Pharmaceutical for nearly $5 billion.
In intraday trading, the stock rose to its highest price of $14.36 before paring gains to end the day up 30.21 percent at $14.18 apiece.
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This followed news on the same day that BioMarin will acquire Amicus Therapeutics, Inc. (NASDAQ:FOLD) in an all-cash transaction at a price of $14.50 each, representing a 33 percent premium to its closing price of $10.89 on Thursday, December 18.
The deal has already been approved by the board of directors of both companies, but remains subject to other regulatory approvals, including those from shareholders.
“Together with our partners in the rare disease community, we created a truly patient-centered biotechnology and successfully developed two transformative medicines for people living with rare diseases, impacting the lives of more than 3,400 patients worldwide,” said Bradley Campbell, President and CEO of Amicus Therapeutics, Inc. (NASDAQ:FOLD).
“With BioMarin’s unwavering commitment to patients, along with greater resources and scale, Amicus medicines will reach even more patients around the world, faster. We are confident that this agreement will benefit our shareholders by providing compelling, safe and premium value, and will accelerate progress for the rare disease community,” he added.
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Disclosure: None. This article was originally published in Internal jumpsuit.