Translate Bio Shares Surge on Takeover by Sanofi
August 03 2021 - 6:46AM
Dow Jones News
By Colin Kellaher
Shares of Translate Bio Inc. jumped nearly 30% in premarket
trading Tuesday after the messenger RNA therapeutics company agreed
to be acquired by vaccine collaboration partner Sanofi SA for about
$3.2 billion.
France's Sanofi said it would pay $38 a share in cash for
Translate Bio, a roughly 30% premium to Monday's closing price of
$29.15 for the Lexington, Mass., company.
Sanofi and Translate Bio, which in 2018 signed a collaboration
and exclusive license agreement to develop mRNA vaccines, said they
expect the deal to close in the third quarter.
Translate Bio shares were recently up 29% to $37.63 in premarket
trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 03, 2021 06:37 ET (10:37 GMT)
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