Update: Sage Therapeutics Board Rejects Biogen's Unsolicited Acquisition Bid

MT Newswires Live

Jan 28, 2025

(Updates with Biogen's response in the third paragraph and the latest stock moves in the last paragraph.)

Sage Therapeutics (SAGE) said Monday its board rejected Biogen's (BIIB) unsolicited, non-binding proposal to acquire Sage shares not already owned by Biogen for $7.22 per share.

Sage also said its board has started a process to look into strategic alternatives, including a potential business combination or sale. The company said there's no assurance that the review would lead to a transaction or other strategic outcome.

Biogen declined to comment when contacted by MT Newswires.

Sage shares were up 4.7% and Biogen's shares were up 1.9% in recent trading.

Price: 7.44, Change: +0.34, Percent Change: +4.72

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