One of B.C.'s largest biotech companies has been bought by Swiss pharmaceutical firm Galenica Group for US$915 million.
Galenica will pay US$26 per share in an all cash deal for Aspreva Pharmaecuticals Corp. (TSX:ASV; Nasdaq:ASPV). The deal represents a 24% premium over Aspreva's 30-day average trading price and a 16% premium over Aspreva's October 16 closing price.
The deal, which is subject to regulatory and shareholder approval, is expected to close January 3.
Aspreva's share price range during the past week: between $21.52 and $22.10; 52-week high: $26.34; 52-week low: $16.69.