Drugmaker Actavis Plc said it would acquire Durata Therapeutics Inc in a deal valued at about $675 million. Actavis' offer of $23 per share represents a premium of 66 percent to Durata stock's closing price on Friday.The deal includes additional cash payments of up to $5 per share if certain milestones for Durata's lead drug, dalvance, are achieved, the companies said.
Shares of ACT traded higher by 4.27% or $10.07/share to $246.07. In the past year, the shares have traded as low as $136.52 and as high as $249.94. On average, 2213160 shares of ACT exchange hands on a given day and today's volume is recorded at 4055870.
Durata Therapeutics, Inc. is a pharmaceutical company focused on the development and commercialization of therapeutics for patients with infectious diseases and acute illnesses. Shares of DRTX traded higher by 17.33% or $2.05/share to $13.88. In the past year, the shares have traded as low as $8.44 and as high as $18.17. On average, 335844 shares of DRTX exchange hands on a given day and today's volume is recorded at 1108720.
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