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

We recently published 10 Firms in the Limelight. Amicus Therapeutics, Inc. (NASDAQ:FOLD) is one of the best performers on Friday.

Amicus Therapeutics soared to a new 52-week high on Friday, jumping 30.21 percent to close at $14.18 apiece as investors gobbled up shares following announcements that it would merge with Biomarin Pharmaceutical for nearly $5 billion.

At intra-day trading, the stock climbed to its highest price of $14.36 before trimming gains to finish the day just up by 30.21 percent at $14.18 apiece.

Pixabay/Public domain

This followed news on the same day that Amicus Therapeutics, Inc. (NASDAQ:FOLD) is set to be acquired by BioMarin in an all-cash transaction at a price of $14.50 apiece, representing a 33 percent premium over its closing price of $10.89 on Thursday, December 18.

The agreement has already been approved by both firms’ board of directors, but remains subject to other regulatory approvals, including shareholders.

“Together with our partners in the rare disease community, we created a truly patient-centric biotech and successfully developed two transformative medicines for people living with rare diseases, which impacted the lives of more than 3,400 patients around the world,” said Amicus Therapeutics, Inc. (NASDAQ:FOLD) President and CEO Bradley Campbell.

“With BioMarin’s unwavering commitment to patients, along with greater resources and scale, Amicus’ medicines will reach even more patients around the world, faster. We are confident that this agreement is in the best interests of our shareholders by providing compelling, certain and premium value, and will accelerate progress for the rare disease community,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.