Global Blood Therapeutics Inc (NASDAQ: GBT)
This article was written on 3.9.2017 for current updates, please scroll to the bottom!
Global Blood Therapeutics is having an exceptionally strong day in the market today. At the opening bell, the stock was trading slightly in the green. From there, it saw its ups and downs, but stayed in the green throughout the morning. Nonetheless, minutes ago, the stock started to spike in a big way. Below, we’ll talk about what we’re seeing from GBT, why, and what we’ll be watching for ahead.
What We’re Seeing From GBT
As mentioned above, Global Blood Therapeutics is having an incredibly strong start to today’s trading session. At the open, the stock was already trading slightly green. Throughout the morning, we saw some movement, but nothing was really worth writing home about. That is, until minutes ago when the stock started to spike. At the moment (10:55), GBT is trading at $35.78 per share after a gain of $7.48 per share or 26.41% thus far today.
Why The Stock Is Making A Run For The Top
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on GBT. As soon as the CNA Finance team received the alert, we started working to see why the stock was making a run for the top. It didn’t take long to dig up the story. The gains are ultimately the result of a takeover offer that was announced minutes ago.
According to Reuters, Global Blood Therapeutics has received a takeover offer. That offer has come from Novo Nordisk (NVO). At the moment, there are no details with regard to the price on the offer, but given where it’s coming from and what it’s going to, we could imagine that there is going to be a strong premium here.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping an incredibly close eye on GBT. In particular, we’re interested in learning more about this offer, especially the price of the offer and whether or not the company will take it. Nonetheless, as always, we’ll continue to watch the story closely and bring you the updates as they break!
Update 2:13 – It is being rumored that Morgan Stanley will help to close the deal between GBT and NVO. Also hearing rumors that the bid is $45 per share.
Update 3/9/2017 (11:42): The news surrounding the Global Blood Therapeutics acquisition possibility is continuing and the stock is climbing. At the moment news is breaking that NVO is willing to pay low single digit billions for the acquisition. As a result, GBT is trading at $36.35 per share after a gain of $2.10 per share or 6.13% thus far today.
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