Investing.com - Japan's (Takeda:4502) will buy (NASDAQ:Ariad) Pharma for $5.2 bn.
Takeda will pay $24 a share in cash for the U.S. cancer drug maker as part of an definitive agreement.
Takeda said Monday it expects the deal to close by the end of February this year.
Ariad shares were were up 72.89% at $23.75 at 09:45 ET.
Takeda said the deal will enhance its global oncology portfolio and pipeline of products.
It said the transaction will be accretive to fiscal 2018 earnings.