Constellation Pharma Jumps on $1.7B Bid From Germany s MorphoSys
Constellation Pharma definitively agrees to be acquired for $34 a share, or $1.7 billion, cash by German biopharma MorphoSys.
Author:
Shares of Constellation Pharmaceuticals (
CNST) - Get Report jumped on Wednesday after it agreed to be acquired by the Munich biopharma MorphoSys (
MOR) - Get Report for $34 a share, or $1.7 billion, cash.
Shares of the Cambridge, Mass., company at last check rose 67% to $33.73. American depositary receipts of MorphoSys which focuses on cancer and autoimmune diseases were down 12% at $19.48.
Constellation develops molecule therapeutics to treat cancer as well as inflammatory and immunologic disorders.
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