Stock Groups

Samsung Group Said to Be In Talks To Acquire Biogen -Breaking

by Mike Robinson

[ad_1]

© Reuters

Sam Boughedda

Investing.com — The Korea Economic Daily Global reported that South Korea’s Samsung Group was in negotiations to buy Biogen Inc, a U.S.-based drugmaker (NASDAQ).

According to investment banking sources, Biogen approached Samsung for its shares. This could have been worth more than $42 Billion.

Statnews’ senior writer Adam Feuerstein stated that “the reported price appears very low,” especially if Biogen sold itself to Samsung. However, this is a good way to stir the pot after a slow week.

Korea Economic Daily stated that the megadeal would likely involve major arms of Samsung Group.

Biogen is already working with Samsung through their partnership in the Samsung Bioepis Business. Biogen owns a 50 percent stake in the company. Samsung Biologics holds the rest.

Biogen shares rose 9% after the announcement.

Recent controversy around Aduhelm, the company’s Alzheimer’s medication has caused shares to drop. The drug’s price was reduced earlier this month by the company, which saw disappointing sales.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are provided by market makers and are therefore not necessarily accurate. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]