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Article: TKT Announces Agreement to be Acquired by Shire for $1.6 Billion.
- Article from:
- PR Newswire
- Article date:
- April 21, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CAMBRIDGE, Mass., April 21 /PRNewswire-FirstCall/ -- Tranksaryotic Therapies, Inc. today announced that it has signed a definitive agreement with Shire Pharmaceuticals Group plc. (LSE: SHP.L; Nasdaq: SHPGY; TSX: SHQ) under which Shire has agreed to acquire TKT. Shire will pay $37 in cash for each share of TKT common stock, or approximately $1.6 billion, representing a 44% premium to $25.77, which is the last four week average of TKT's closing share price. Closing of this transaction is subject
to, among other things, regulatory clearance and approval of the stockholders of each company. The transaction is expected to close in the third quarter of 2005.
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