TESARO Inc (NASDAQ: TSRO) was off to a rough day in the market early on today, spending most of the morning in the red. However, things changed minutes ago as rumors broke of a potential takeover. Of course, this led to excitement among investors, causing gains and prompting an alert from our partners at Trade Ideas. At the moment (11:04), TSRO is trading at $139.60 per share after a gain of $0.82 per share (0.59%) thus far today.
TSRO Gains On Takeover Chatter
As mentioned above TESARO was off to a rough day in the market early on. That is, before rumors broke minutes ago that the company may be taken over, causing the stock to quickly spike into the green and beyond. The rumors suggest that Sanofi (NASDAQ: SNY) is interested in taking the company over. If the rumors are true, the takeover will happen at a price of $185 per share, representing a strong premium. The rumor also suggests that Gilead Sciences (GILD) is interested in the takeover.
It’s important to keep in mind that this isn’t the only rumor we’ve seen in the market like this. In fact, it’s not even the first takeover rumor today. The reality is that takeover rumors happen in the market quite often, with very few of them proving to be true. While this one does have a bit of validity to it, considering that the source of the rumor is a reputable outlet, anything can happen. So, if you’re going to trade on this news, make sure to trade with caution.
Stop wasting your time! Find winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TSRO, SNY, and GILD. In particular, we’re interested in learning if this takeover is actually going to take place. Of course, if it does, it will mean an immediate return of value for TSRO shareholders. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!