Bioverativ Inc (NASDAQ: BIVV) is having an overwhelmingly strong day in the market today, and for good reason. Early this morning, it was announced that the company would be acquired by Sanofi SA (ADR) (NYSE: SNY). Of course, this led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the announcement, what we’re seeing from BIVV, and what we’ll be watching for ahead.
BIVV To Be Acquired By SNY
As mentioned above, Bioverativ is having an overwhelmingly strong day in the market today after it was announced that the company would be acquired. In a press release issued early this morning, it was announced that SNY will acquire all outstanding shares of BIVV at a price of $105 in an all cash transaction. This represents an overall equity value on a fully diluted basis of approximately $11.6 billion. In the release, the company said that the boards of both companies involved unanimously approved the transaction. In a statement, Oliver Brandicourt, CEO at SNY, had the following to offer: