Why Centessa Stock Soared Today
Shares of Centessa Pharmaceuticals (NASDAQ: CNTA) surged on Tuesday after the drugmaker struck a deal to be acquired by Eli Lilly (NYSE: LLY) for as much as $7.8 billion.
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Under the terms of the deal, Lilly would purchase Centessa for $38 per share in cash. That's a premium of nearly 38% to the healthcare stock's closing price on Monday.
Source Fool.com
