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Sciele enjoys six-year stock high
After yesterday's news hit that Atlanta-based Sciele Pharma would accept Japan's Shionogi's generous buyout offer, shares of the drug company's stocks jumped nearly 60 percent.
The deal, for $31 per share, will net Sciele $1.4 billion. Shionogi's offer was 61 percent above the stock price at market closure on Friday, but the stock closed at almost the offer price, at $30.68 per share on Tuesday.
Sciele's stocks haven't sold for over $30 since the beginning of 2002.
- see the story at Forbes.com
- find out what Business Week says
Related Article:
Japanese pharma to pay $1.4B for Sciele
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