Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) stock is having a field day as rumors regarding a buyout continue to swirl.
Japanese company Takeda Pharmaceutical Co Ltd is reportedly considering acquiring Ariad as part of a deal worth $5.2 billion, or about $24 per ARIA share, according to sources close to the matter.
The deal is expected to be complete this coming February, offering Takeda a wide array of drugs and treatments related to hematology, as well as products to treat tumors. There are two Ariad therapies that are key to the deal as they are innovative and effective.
Takeda noted that it is not often that opportunities of this quality come by, praising the opportunity to bring Ariad’s products to its fold in a bid to aid patients, shareholders and others invested in the Japanese pharmaceutical giant.
The boards of directors of both companies have green-lit the move, which will be complete unless regulators do not approve the acquisition, which is unlikely. Sarissa Capital Management — stakeholder of 6.6% of Ariad common shares — will tender their shares to Takeda if the deal goes through.
The members of Ariad’s Board of Directors will do the same. Paris Panayiotopoulos, president and chief executive officer of Ariad, said that the company is excited to make a move that will ultimately be in the best interest of cancer patients, helping to accelerate the potential of the company’s treatments.
ARIA shares boomed 73.3% Monday.
