Global Blood Therapeutics Shares Rise Premarket After Pfizer Deal

By Colin Kellaher

Shares of Global Blood Therapeutics Inc. edged higher in premarket trading Monday after the biopharmaceutical company agreed to be acquired by Pfizer Inc. in a transaction valued at about $5.4 billion, including assumed debt.

New York-based Pfizer said it would pay $68.50 a share in cash for Global Blood, a 7.3% premium to Friday's closing price of $63.84 but more than double its closing price of $33.93 on Aug. 3, before published reports emerged that potential buyers were circling the South San Francisco, Calif., company.

Global Blood shares, which ended Friday's session with a gain of 33%, were recently changing hands at $66.36, up 4%.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

August 08, 2022 07:14 ET (11:14 GMT)

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