4 big deal reports: Prometheus stock jumps 70% on Merck buyout | Pro Recap

By Davit Kirakosyan

Investing.com -- Here is your Pro Recap of head-turning deal dispatches you may have missed this week. As always, InvestingPro subscribers got this news first.

Prometheus shares surge following Merck’s acquisition announcement

Prometheus Biosciences (NASDAQ:RXDX) shares jumped nearly 70% on Monday following the announcement that Merck (NYSE:MRK) has agreed to acquire the company for $200.00 per share in cash for a total equity value of approximately $10.8 billion.

The acquisition, which is expected to close in Q3/23, is subject to Prometheus Biosciences' shareholder approval.

BELLUS shares jump more than 100% on GSK acquisition announcement

GSK (NYSE:GSK) and BELLUS Health (NASDAQ:BLU) announced on Tuesday that GSK will acquire BELLUS for $14.75 per share in cash, representing a total equity value of approximately $2.0B (£1.6B).

BELLUS is a Canada-based late-stage biopharmaceutical company that focuses on improving the quality of life of patients who are experiencing chronic refractory cough (CRC).

BELLUS shares surged more than 104% this week, while GSK shares were down nearly 3%.

Teck Resources Chairman Norman Keevil releases statement opposing Glencore deal

Teck Resources (NYSE:TECK) issued a statement on Monday on behalf of Chairman Emeritus Norman Keevil, who shared his perspective on Glencore 's (LON:GLEN) acquisition proposal, noting it “is the wrong one, as well as at the wrong time”. Keevil affirmed his complete agreement with Teck’s Board that there is no deal to be done pre-separation with Glencore or any other party.

Last week, Teck’s Board of Directors reviewed and unanimously rejected a revised unsolicited acquisition proposal from Glencore.

Brookfield enters race for Network International with $2.7B acquisition offer

Network International (LON:NETW) shares jumped more than 10% on Friday after Brookfield (NYSE:BAM) announced a counter bid of £2.13B ($2.7B) to take over the company, topping a joint proposal from CVC Capital and Francisco Partners, which was disclosed on Monday.