Alexion Pharma To Acquire Portola - Quick Facts

(RTTNews) - Alexion Pharmaceuticals, Inc. (ALXN) and Portola Pharmaceuticals, Inc. (PTLA) have entered into a definitive merger agreement for Alexion to acquire Portola, a commercial-stage biopharmaceutical company focused on life-threatening blood-related disorders. A subsidiary of Alexion will commence a tender offer to acquire all of the outstanding shares of Portola's common stock at a price of $18 per share.

Following successful completion of the tender offer, Alexion will acquire all remaining shares not tendered in the offer at the same price of $18 per share through a merger. The transaction is expected to close in the third quarter of 2020.