Italy’s Gentium accepts $1 billion takeover offer from Jazz Pharma

20 December 2013

Ireland-headquartered drugmaker Jazz Pharmaceuticals (Nasdaq: JAZZ) has entered into a definitive agreement to acquire Italy’s rare disease drug developer Gentium SpA (Nasdaq: GENT) for $57.00 per share or around $1 billion in total.

The transaction is expected to close in the first quarter of 2014. The $57 per-share offer is a premium of 2.4% over Gentium's Thursday close of $55.65 on the Nasdaq. Jazz's shares were up 2% in extended trading, while Gentium’s shares rose 3%.

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