Japan's Takeda Pharmaceutical agreed to acquire cancer-drug maker Millennium Pharmaceuticals (MLNM Quote) in a deal worth $8.8 billion.
According to the terms of the pact, Takeda will pay $25 for each of Millennium's shares. That's a premium of more than 50% to the stock's prior close at $16.35. Millennium, based in Cambridge, Mass., is best known for the cancer drug Velcade. Last year, the company had revenue of approximately $528 million. The transaction was approved by the boards of both companies.- Loading Comments...
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