Immunogen's AbbVie Deal: Key Insights For Investors And Traders [Seeking Alpha]
ImmunoGen, Inc. (IMGN)
Last immunogen, inc. earnings: 5/1 06:30 am
Check Earnings Report
US:NASDAQ Investor Relations:
investor.immunogen.com/investor-relations
Company Research
Source: Seeking Alpha
The likelihood of an overbid is low due to a high termination fee and the current state of the biotech industry. The deal is expected to close in the middle of 2024, but historical data suggests it could close within 100-250 days. Looking for a portfolio of ideas like this one? Members of Special Situation Report get exclusive access to our subscriber-only portfolios. Learn More » ImmunoGen, Inc. NASDAQ: IMGN ) is being acquired by AbbVie Inc. ABBV ) at a 94.6% premium or $31.26 per share. The IMGN shares now trade at $29.32, which means there is around a 6.6% upside to the deal's successful closing. The question is whether it is still an attractive proposition. My first question is how likely it is to see an overbid here. I don't think it is very likely at all. That buyer would need to pay a termination fee of $350 million, and that's a lot. In addition, the entire biotech space has been in the tank for an extended period. This helps explain the sizeable premium, meaning the
Show less
Read more
Impact Snapshot
Event Time:
IMGN
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
IMGN alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
IMGN alerts
High impacting ImmunoGen, Inc. news events
Weekly update
A roundup of the hottest topics