Japan's Mitsubishi Tanabe Pharma Corp said on Friday that it will take a 60 percent stake in Canada's Medicago Inc in a joint purchase with a Philip Morris International Inc subsidiary. Mitsubishi Tanabe Pharma said it expects to pay C$1.16 per Medicago share, or up to C$179 million ($172 million), in the deal.
Shares of MDG fell by 3.06% or $-0.03/share to $0.95. In the past year, the shares have traded as low as $0.34 and as high as $1.01. On average, 346357 shares of MDG.TO exchange hands on a given day and today's volume is recorded at 225798.
Philip Morris International Inc. (PMI) is a holding company. Shares of PM remained unchanged at $90.34. In the past year, the shares have traded as low as $82.10 and as high as $96.73. On average, 5276880 shares of PM exchange hands on a given day and today's volume is recorded at 0.
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