AbbVie To Acquire Cerevel Therapeutics In $8.7 Bln Deal

(RTTNews) - AbbVie Inc. (ABBV) agreed to acquire Cerevel Therapeutics (CERE) for $45.00 per share in cash, valuing the company at about $8.7 billion.

CERE closed Wednesday's regular trading at $36.93 up $1.34 or 3.77%. In the after-hours trading, the stock further gained $5.82 or 15.76%.

AbbVie will acquire Cerevel Therapeutics' neuroscience pipeline of multiple clinical-stage and preclinical candidates with potential across several diseases including schizophrenia, Parkinson's disease (PD), and mood disorders.

The boards of directors of both companies have approved the transaction. The transaction is expected to close in the middle of 2024.

AbbVie expects the proposed transaction to be accretive to adjusted earnings per share beginning in 2030.