Alexion Pharmaceuticals to Acquire Portola at $18 Per Share

Alexion to Acquire Portola

Alexion (ALXN) and Portola (PTLA) entered into a definitive merger agreement and Alexion acquired Portola.

The Terms of the Merger

A subsidiary of Alexion will commence a tender offer to acquire all of the outstanding shares of Portola’s common stock at a price of $18 per share in cash. The tender offer is subject to customary conditions including the tender of a majority of the outstanding shares of Portola common stock, the expiration or termination of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 and receipt of certain other regulatory approvals.

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