Alexion, Huntington, Take-Two - Monday's Premarket Movers
Stock futures were rising Monday as the first coronavirus vaccines were shipped to distribution sites across the U.S. and a bipartisan group of lawmakers prepared to introduce a $908 billion pandemic relief package.
Here are some of the top movers during premarket trading on Monday.
1. Alexion Pharmaceuticals ALXN | Up 30.68%
Alexion Pharmaceuticals (ALXN) - Get Report shares surged higher Monday after the rare disease specialist agreed to a $39 billion takeover by Britain's AstraZeneca (AZN) - Get Report. AstraZeneca will pay around $175 a share for Alexion, through a combination of cash and shares, representing a near 45% premium to the stock's closing price Friday and valuing the Boston-based company at $39 billion, or around four times Alexion's 2025 revenue target of $9.5 billion.
2. Dropbox DBX | Up 8.38%
Technology news platform The Information predicted that Dropbox likely will be the next mergers and acquisitions target in the enterprise software space in 2021. Either Oracle (ORCL) - Get Report or ServiceNow (NOW) - Get Report could potentially strike a deal for Dropbox, it said.
3. AstraZeneca AZN | Down 6.12%
AstraZeneca (AZN) - Get Report dropped Monday after it agreed to a $39 billion takeover of rare disease expert Alexion Pharmaceuticals (ALXN) - Get Report Saturday.
4. Electronic Arts EA | Up 2.23%
Gaming company Electronic Arts (EA) - Get Report reached an agreement to acquire U.K.-based Codemasters Group, a maker of racing video games, for $1.2 billion, topping an offer of $956 million from Take-Two Interactive (TTWO) - Get Report.
5. Take-Two Interactive TTWO | Up 1.6%
Take-Two Interactive’s nearly $1 billion bid for Codemasters Group has been topped by rival game maker Electronic Arts (EA) - Get Report, which agreed to pay $1.2 billion for the London-based maker of racing video games.
6. Huntington Bancshares HBAN | Up 0.54%
U.S. regional lenders Huntington Bancshares (HBAN) - Get Report and TCF Financial (TCF) - Get Report entered an all-stock deal to create a company worth about $22 billion in market value, the companies said.
