Stock Alert: Viela Bio Rises 52% On News Of Acquisition

(RTTNews) - Shares of biotechnology company Viela Bio, Inc. (VIE) are surging more than 52% Monday morning on the news of it getting acquired by Horizon Therapeutics for $53.00 per share in cash or $3.05 billion equity value.

As per the agreement between Viela and Horizon, Horizon will acquire all of the issued and outstanding shares of Viela for $53.00 per share in cash, which is about $3.05 billion equity value or nearly $2.67 billion net of Viela's cash and cash equivalents.

As of December 31, 2020, Horizon had $2.08 billion in cash and cash equivalents.

The transaction is expected to close by the end of the first quarter of 2021.

VIE, currently at $52.99, has been trading in the range of $25.02- $70.66 in the last one year.