S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Sanofi in 3.9 B Deal with Ablynx, AMS Lifts Revenues Outlook

Author: Sarla Buch
Last Update: 11:08 AM EST January 29 2018

4:00 PM Frankfurt Ablynx agreed to be acquired by France-based Sanofi for 3.9 billion in cash. AMS soared after the sensor maker lifted fiscal revenues growth. Getinge plunged. Relx agreed to buy the U.S.-based privately held ThreatMetrix for 580 million.

In London trading, FTSE 100 index rose 7.50 to 7,673.04 and in Frankfurt the DAX index fell 21.72 to 13,318.78.

In Paris, CAC 40 index edged up 1.52 to 5,530.67.

Ablynx NV surged 19.4% to 44.32 after Belgium-based biopharmaceutical products maker agreed to be acquired by France-based healthcare products maker Sanofi SA for 45 per share in cash or 3.9 billion or $4.85 billion.

However, earlier in this month, Ablynx rejected offer of 2.6 billion from Denmark-based Novo Nordisk A/S.

The transaction is expected to close by the end of second-quarter.

AMS AG soared 20.1% to 92.04 Swiss francs after Austria-based optical sensors maker lifted fiscal 2018 revenues growth forecast to surge 93% to 1.06 billion or $1.32 billion driven by strong demand for its sensors from smart-phone makers like Apple.

The optical sensors maker also lifted revenue growth estimate for fiscal 2019 to 60% from the earlier estimate of 40% or more than 2.2 billion and operating margin of about 30% for 2019 and onwards.

AMS AG is scheduled to release its fiscal year and fourth quarter 2017 results on February 6, before market open.

BNP Paribas SA rose 0.3% to 68.48 after the U.S. Justice Department said that France-based lender pleaded guilty and agreed to pay $90 million criminal fine to settle the case to fix the foreign exchange market.

Getinge AB plunged 9.5% to 105.15 Swedish kronor after Sweden-based healthcare services provider reported net sales in the year ending in December rose 1.4% from a year ago to 23.2 billion kronor.

Net income in the quarter soared 57.6% to 1.1 billion kronor from 698 million kronor in a year ago period and diluted earnings per share advanced to 4.37 kronor from 2.89 kronor.

Relx Plc rose 0.2% to 1,564 pence after the U.K.-based professional analytics information provider agreed to acquire the U.S.-based privately held ThreatMetrix security technology provider for about 580 million or $819 million in cash.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc