dova pharmaceuticals

Dova Pharmaceuticals (DOVA - Get Report)  soared Monday after agreeing to be acquired by Swedish Orphan Biovitrum for more than $900 million.

Swedish Orphan Biovitrum, also known as Sobi, will pay $27.50 a share in cash for Dova, plus a further $1.50 a share upon regulatory approval of Dova drug Doptelet for the treatment of chemotherapy-induced thrombocytopenia. 

The total value of the deal is worth about $915 million.

The upfront consideration of $27.50 a share represents a premium of 36% to Dova's closing price on Friday, and a premium of 59% to the 30-day volume weighted average price.

Dova closed Friday at $20.19 and was more than 38% to $27.98 in trading on Monday.

The transaction is expected to close in the fourth quarter.

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