Bellus Health Shares Soar Premarket on Takeover by GSK
April 18 2023 - 6:24AM
Dow Jones News
By Colin Kellaher
Shares of Bellus Health Inc. nearly doubled in premarket trading
Tuesday after the late-clinical-stage biopharmaceutical company
agreed to be acquired by U.K. drug major GSK PLC for about $2
billion.
GSK said it would pay $14.75 a share in cash for Bellus, more
than double Monday's closing price of $7.26 for U.S.-listed shares
of the Laval, Quebec, company.
Bellus shares also are listed in Canada, and the deal
consideration equates to roughly 19.71 Canadian dollars, also more
than double Monday's closing price of C$9.71 for Toronto-listed
shares of Bellus.
The deal is slated to close by the third quarter.
U.S.-listed shares of Bellus were recently up 98% to $14.34 in
premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 18, 2023 06:09 ET (10:09 GMT)
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