Alexion, Huntington, Take-Two – Monday’s Premarket Movers
Stock futures rose Monday as the first coronavirus vaccines were shipped to distribution locations in the U.S. and a non-partisan group of lawmakers agreed to launch a $ 908 billion pandemic relief package.
Here are some of the top movers during Monday’s premarket trading.
1. Alexion Pharmaceuticals ALXN | Plus 30.68%
Alexion Pharmaceuticals (ALXN) – Get the report Shares rose Monday after the rare disease specialist approved a $ 39 billion acquisition by UK-based AstraZeneca (AZN) – Get the report. AstraZeneca pays Alexion around $ 175 per share through a combination of cash and stock, which is a premium of nearly 45% over the stock’s closing price on Friday, and valued the Boston-based company at $ 39 billion, roughly four times that Alexion’s 2025 revenue target of $ 9.5 billion.
2. Dropbox DBX | Plus 8.38%
Technology news platform The Information predicted that Dropbox is expected to be the next target for mergers and acquisitions in the enterprise software space in 2021. Either Oracle (ORCL) – Get the report or ServiceNow (NOW) – Get the report could potentially close a deal for Dropbox, it said.
3. AstraZeneca AZN | 6.12% decrease
AstraZeneca (AZN) – Get the report fell Monday after a $ 39 billion acquisition of rare disease expert Alexion Pharmaceuticals was agreed (ALXN) – Get the report Saturday.
4. Electronic Arts EA | Plus 2.23%
Electronic Arts game company (SHE) – Get the report has entered into an agreement to acquire UK-based Codemasters Group, a racing video game maker, for $ 1.2 billion, beating Take-Two Interactive’s $ 956 million offer (TTWO) – Get the report.
5. Take-Two Interactive TTWO | Plus 1.6%
Take-Two Interactive’s offer to Codemasters Group of nearly $ 1 billion was surpassed by rival game maker Electronic Arts (SHE) – Get the report, who agreed to pay $ 1.2 billion for the London-based racing video game maker.
6. Huntington Bancshares HBAN | Plus 0.54%
US regional lender Huntington Bancshares (HBAN) – Get the report and TCF Financial (TCF) – Get the report You struck an all-stock deal to create a company valued at around $ 22 billion.