TBIO > Shares of Translate Bio Inc. jumped nearly 30% in premarket trading Tuesday after the messenger RNA therapeutics company agreed to be acquired by vaccine collaboration partner Sanofi SA for about $3.2 billion.
France's Sanofi said it would pay $38 a share in cash for Translate Bio, a roughly 30% premium to Monday's closing price of $29.15 for the Lexington, Mass., company.
Sanofi and Translate Bio, which in 2018 signed a collaboration and exclusive license agreement to develop mRNA vaccines, said they expect the deal to close in the third quarter.
Translate Bio shares were recently up 29% to $37.63 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
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