BUZZ-Sage Therapeutics soars after Biogen makes $441.7 mln bid for company

Reuters

01-11

BUZZ-<a href="https://laohu8.com/S/SAGE">Sage Therapeutics</a> soars after Biogen makes $441.7 mln bid for company

** Shares of drug developer Sage Therapeutics SAGE.O rise about 33% to $7.38 in extended trading

** Biogen BIIB.O sends letter to SAGE CEO offering to buy all outstanding shares of the company it does not already own

** BIIB offers to buy all SAGE shares for $7.22 per share in cash, implying a total deal value of $441.7 mln, according to Reuters calculations

** BIIB, which is SAGE's largest shareholder, currently owns 10.2% or over 6.24 mln shares of SAGE common stock

** The share price offered implies a 30% premium to SAGE's closing price on Friday

** SAGE stock fell ~75% in 2024

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

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SAGE common stock</p><p>** The share price offered implies a 30% premium to SAGE's closing price on Friday</p><p>** SAGE stock fell ~75% in 2024</p><p> (Reporting by Vallari Srivastava in Bengaluru)</p><p> ((Srivastava.Vallari@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BUZZ-Sage Therapeutics soars after Biogen makes $441.7 mln bid for company</title>\n<style 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xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-<a href=\"https://laohu8.com/S/SAGE\">Sage Therapeutics</a> soars after Biogen makes $441.7 mln bid for company</title></head><body><p>** Shares of drug developer Sage <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> <span>SAGE.O</span> rise about 33% to $7.38 in extended trading</p><p>** Biogen <span>BIIB.O</span> sends letter to SAGE CEO offering to buy all outstanding shares of the company it does not already own</p><p>** BIIB offers to <span>buy</span> all SAGE shares for $7.22 per share in cash, implying a total deal value of $441.7 mln, according to Reuters calculations</p><p>** BIIB, which is SAGE's largest shareholder, currently owns 10.2% or over 6.24 mln shares of SAGE common stock</p><p>** The share price offered implies a 30% premium to SAGE's closing price on Friday</p><p>** SAGE stock fell ~75% in 2024</p><p> (Reporting by Vallari Srivastava in Bengaluru)</p><p> 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