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Sunday, September 28, 2014

Japan's Daiichi Sankyo to acquire US biopharma Ambit Biosciences, (NASDAQ: AMBI)

Japanese drugmaker Daiichi Sankyo Co Ltd has agreed to acquire U.S. biopharmaceutical company Ambit Biosciences Corp in a deal valued up to $410 million as it looks to build its presence in oncology, the companies said. The companies said in a joint statement that Daiichi Sankyo would acquire all outstanding common stock of San Diego-based Ambit Biosciences for $15 per share in cash through a tender offer, or about $315 million, and merge it with a subsidiary of Daiichi Sankyo. Ambit shares closed at $8.20 on Friday.

Ambit Biosciences Corporation is a biopharmaceutical company. Shares of AMBI fell by 1.68% or $-0.14/share to $8.20. In the past year, the shares have traded as low as $4.80 and as high as $21.44. On average, 60916 shares of AMBI exchange hands on a given day and today's volume is recorded at 25565.