Yahoo News - Latest News & Headlines
Pharmaceutical giant Eli Lilly will acquire cancer treatment specialist Loxo Oncology in a cash deal valued at around $8 billion, the companies said on Monday. The firms "announced a definitive agreement for Lilly to acquire Loxo Oncology for $235.00 per share in cash, or approximately $8.0 billion," a statement said. The deal -- which represents a premium of some 68 percent over Loxo Oncology's closing share price on Friday -- is expected to close by the end of the first quarter, the statement said.
No comments