TiGenix Skyrockets on Acquisition News

GuruFocus.com
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- By Omar Venerio

Wall Street was up in premarket trading on Friday with all the main indexes well in the green, fueled by a December jobs report that showed an improvement in the labor market. The Dow Jones Industrial Average rose to more than 25,100 points -an all-time high- with tech stocks rallying.

Shares of TiGenix NV (TIG) jumped nearly 70% on news Takeda Pharmaceutical (TSE:4502) will acquire the company for 520 million euros ($626.3 million) in cash, or 1.78 euros per ordinary share. The takeover will give Takeda control of Cx601 (darvadstrocel), a stem cell therapy used to treat Crohn"s disease. The agreement will also expand Takeda"s late-stage gastroenterology pipeline while strengthening its presence in the U.S. specialty care market.


Gainers

  • Xilinx Inc. (XLNX)

  • Electronic Arts Inc. (EA)

  • eBay Inc. (EBAY)

  • Boeing Co. (BA)

  • Hess Corp. (HES)



Losers

  • Johnson Controls International PLC (JCI)

  • Wyndham Worldwide Corp. (WYN)

  • Ulta Beauty Inc. (ULTA)

  • Illumina Inc. (ILMN)

  • Chesapeake Energy Corp. (CHK)



Global markets

The main European stock markets traded higher for the third consecutive day. The U.K."s FTSE 100 rose 0.37%, France"s CAC 40 climbed 1.05%, Germany"s Dax jumped 1.15% and Spain"s Ibex 35 gained 0.94%.

In Asia, Japan"s Nikkei 225 gained 0.89%, India"s BSE Sensex inched up 0.54%, Hong Kong"s Hang Seng rose 0.25% and China"s SSE Composite gained 0.18%.

Disclosure: The author holds no positions in any stocks mentioned.

This article first appeared on GuruFocus.


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