Why MyoKardia Stock Is Soaring Today
Shares of the heart disease specialist MyoKardia (NASDAQ: MYOK) jumped by a healthy 59% in pre-market trading Monday morning. The biopharma's stock ripped higher in early-morning action today in response to a $13.1 billion definitive merger agreement with Bristol Myers Squibb (NYSE: BMY).
Bristol's buyout offer of $225 per share represents a 61% premium over where MyoKardia's shares closed last Friday. The two companies said this all-cash merger transaction should close during the fourth quarter of 2020.
Source Fool.com