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Why Dynavax Stock Soared Today

The Motley Fool Logo The Motley Fool By Joe Tenebruso
Why Dynavax Stock Soared Today

Dynavax Technologies stock surged 38.19% after French pharmaceutical giant Sanofi announced an all-cash tender offer to acquire the biotech company for $15.50 per share, valuing it at approximately $2.2 billion. The deal represents a 39% premium to Dynavax's previous closing price and combines Dynavax's hepatitis B and shingles vaccines with Sanofi's global distribution network and development expertise.

Insights
WFCpL   neutral

Mentioned as a joint book-running manager for the offering, performing a standard financial service role


DVAX   positive

Stock soared 38.19% following announcement of acquisition by Sanofi at a 39% premium to previous closing price, providing shareholders with significant value and certainty of exit.