Amicus (FOLD) Flies to 52-Week High on $5-Billion BioMarin Merger

We precocious published 10 Firms successful the Limelight. Amicus Therapeutics, Inc. (NASDAQ:FOLD) is 1 of the champion performers connected Friday.

Amicus Therapeutics soared to a caller 52-week precocious connected Friday, jumping 30.21 percent to adjacent astatine $14.18 apiece arsenic investors gobbled up shares pursuing announcements that it would merge with Biomarin Pharmaceutical for astir $5 billion.

At intra-day trading, the banal climbed to its highest terms of $14.36 earlier trimming gains to decorativeness the time conscionable up by 30.21 percent astatine $14.18 apiece.

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This followed quality connected the aforesaid time that Amicus Therapeutics, Inc. (NASDAQ:FOLD) is acceptable to beryllium acquired by BioMarin successful an all-cash transaction astatine a terms of $14.50 apiece, representing a 33 percent premium implicit its closing terms of $10.89 connected Thursday, December 18.

The statement has already been approved by some firms’ committee of directors, but remains taxable to different regulatory approvals, including shareholders.

“Together with our partners successful the uncommon illness community, we created a genuinely patient-centric biotech and successfully developed 2 transformative medicines for radical surviving with uncommon diseases, which impacted the lives of much than 3,400 patients astir the world,” said Amicus Therapeutics, Inc. (NASDAQ:FOLD) President and CEO Bradley Campbell.

“With BioMarin’s unwavering committedness to patients, on with greater resources and scale, Amicus’ medicines volition scope adjacent much patients astir the world, faster. We are assured that this statement is successful the champion interests of our shareholders by providing compelling, definite and premium value, and volition accelerate advancement for the uncommon illness community,” helium added.

While we admit the imaginable of FOLD arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.