Millennium Pharmaceuticals, Becoming Part of Takeda in Japan (MLNM)

Health and Healthcare

Published: April 10, 2008 8:19 am

Last Updated: March 26, 2020 12:16 pm

Millennium Pharmaceuticals Inc. (NASDAQ: MLNM) is being acquired. Takeda Pharmaceuticals in Japan is paying some $8.8 Billion to acquire the biotech, which had a market cap of $5.3 Billion as of yesterday.

The cash buyout will come at $25.00 per share, roughly a 50% premium to Wednesday’s $16.35 close. Its 52-week trading range was $9.49 to $17.19. This is also more than a 25% premium to any prices this one has seen over the last 5-years.

This acquisition will help Takeda go from heart and diabetes into more of a cancer treatment, which will further diversify its operations. Analysts expect Millennium to post $almost $570 million in revenues this year and $673 million in revenues next year.

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Jon C. Ogg
April 10, 2008

Jon Ogg produces the Special Situation Investing Newsletter. He can be reached at [email protected] and he does not own securities in the companies he covers.

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