Gilead to acquire Arcellx for $7.8 billion
Feb 23 (Reuters) - Gilead Sciences said on Monday it will buy cancer therapy developer Arcellx for an implied equity value of $7.8 billion, sending shares of Arcellx climbing 77.8% to $113.99 in premarket trading.
Gilead will pay $115 per share in cash at the deal's closing and one contingent value right of $5 per share, which is a premium of 87% to the stock's last close.
(Reporting by Christy Santhosh in Bengaluru; Editing by Leroy Leo and Pooja Desai)
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