Algeta jumps on Bayer bid

Algeta ASA (OSE:ALGETA) jumped NOK80.60 (30%) to NOK345.20 on Tuesday after the biotech said it received a preliminary proposal from partner Bayer AG (Xetra:BAYN) to acquire Algeta for NOK336 per share, or about NOK14.8 billion ($2.4 billion) based on 43.9 million shares outstanding. Algeta said the "discussions are at an early stage" and that it will make further announcements in "due course." ...