Shares of Bio-Reference Laboratories are surging after news it’s being acquired for $US1.47 billion.
On Thursday morning, Opko Health said it will pay 2.75 shares for each Bio-Reference Labs share, which comes to about $US52.58 per share.
Bio-Reference Labs surged more than 43% in premarket trading after being briefly halted, and opened about 40% higher. Opko Health fell more than 5%.
Bio-Reference Labs closed at $US32.96 a share on Thursday. It’s up 23% over the past 12 months.
The statement said, “OPKO intends to leverage the national marketing, sales, and distribution resources of Bio-Reference Laboratories to enhance sales of its 4Kscore test, a blood test that provides a patient’s specific personalised risk score for aggressive prostate cancer as well as other OPKO diagnostic products under development.”
The deal is expected to close in the second half of the year.