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Why Abiomed Stock Skyrocketed Today

TheMotleyFool

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Why Abiomed Stock Skyrocketed Today: https://g.foolcdn.com/editorial/images/707238/handshake-gettyimages-592392348.jpg

Shares of Abiomed (NASDAQ: ABMD) soared 50% on Tuesday after the medical device maker struck an acquisition deal with Johnson & Johnson (NYSE: JNJ).

J&J will make a tender offer for Abiomed's publicly traded shares. Under the terms of the agreement, Abiomed's share owners would receive $380 per share in cash, representing an enterprise value of roughly $16.6 billion.

Abiomed shareholders will also earn an additional $35 per share in cash if certain sales and development milestones are reached.

Source Fool.com

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