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DewDiligence

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Re: DewDiligence post# 253166

Tuesday, 03/31/2026 9:54:42 AM

Tuesday, March 31, 2026 9:54:42 AM

Post# of 257443
BGEN acquires APLS for $41.00/sh cash +CVR—a 140% premium to yesterday’s close (excluding the CVR):

https://www.globenewswire.com/news-release/2026/03/31/3265287/0/en/Biogen-to-Acquire-Apellis-Enhancing-the-Company-s-Growth-Portfolio-in-Immunology-and-Rare-Disease-Bolstering-Growth-Outlook-and-Accelerating-Expansion-into-Nephrology.html

The nominal deal value (excluding the CVR) is $5.6B.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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