Wedbush downgraded SpringWorks Therapeutics (SWTX) to Neutral from Outperform after Merck KGaA (MKGAY) and SpringWorks announced the companies have entered into a definitive agreement for Merck KGaA to acquire SpringWorks for $47 per share in cash.
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Read More on SWTX:
- M&A News: Cancer Fighting BioTech SpringWorks Bought by German Firm Merck for $3.9B.
- SpringWorks Therapeutics Merges with Merck for $3.9 Billion
- Strategic Growth and Acquisition Potential: Springworks Therapeutics’ Buy Rating Reinforced by EMA and FDA Milestones
- Merck KGaA to acquire SpringWorks Therapeutics for $47 per share in cash
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