Tercica shares rocket 99%, to be acquired by Ipsen
Shares of Tercica, Inc. (Nasdaq:TRCA) are rocketing 99% in pre-market trading after the biopharmaceutical company said late Wednesday night that it will be bought out by international pharmaceutical company Ipsen, S.A. (Euronext: IPN) for $663 million, or $9.00 per share in cash.
The proposed cash offer represents a 104% premium over Tercica’s closing price on June 4 and a 74% premium to the volume-weighted average closing share price during the last three months.
Shares surged 99%, or $4.39, to $8.80 in pre-market trading. For detailed price information and recent news stories about Tercica, click TRCA.
