FX.co ★ Longboard Shares Surge In Pre-market On News Of Acquisition

Shares of Longboard Pharmaceuticals, Inc. (LBPH) experienced a significant surge of more than 50% in pre-market trading on Monday following the announcement of its acquisition by H. Lundbeck A/S. The transaction is valued at approximately $2.6 billion. Under the terms of the agreement, shareholders of Longboard will receive $60 per share, reflecting a 54.2% premium based on Friday's closing price. The deal is anticipated to be finalized in the fourth quarter of 2024. On Friday, Longboard's stock closed at $38.90, marking a 13.18% increase, and has fluctuated between $3.60 and $43.15 over the past year.