Akero Therapeutics (AKRO) Jumps 16% in $5.2 Billion Novo Nordisk Merger

We recently posted 10 big names with huge gains; 6 Jump to all-time highs. Akero Therapeutics, Inc. (NASDAQ:AKRO) was one of the best performing companies on Thursday.

Akero Therapeutics saw its stock price rise 16.33 percent on Thursday to end at $54.08 per share after announcing its merger with Novo Nordisk in a $5.2 billion deal.

(NASDAQ:AKRO) said in a statement that the two companies have formally entered into a definitive agreement, under which Novo Nordisk will acquire all AKRO shares at a price of US$54 per piece along with a non-transferable conditional value right (CVR) upon achieving a milestone.

Each shareholder is entitled to receive $6 in cash when efroxifermin, a potential treatment for decompensated liver fibrosis due to MASH, receives full US regulatory approval by June 30, 2031.

Akero Therapeutics, Inc. said: (NASDAQ:AKRO) The offer price represents a 19 percent premium over its 30-day volume-weighted average price (VWAP), and a 42 percent premium to its closing price on May 19, before market speculation.

The EFX program of Akero Therapeutics, Inc. (NASDAQ:AKRO), which is focused on developing a MASH therapy, would complement Novo’s leadership in GLP-1-based metabolic therapies.

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Read next: 30 stocks should double in 3 years and 11 Undercover AI Stocks You Can Buy Now.

Disclosure: None. This article was originally published on The monkey inside.