Sage confirms unsolicited takeover bid from Biogen

11 January 2025

Sage Therapeutics’ (Nasdaq: SAGE) shares jumped over 45% to $8.09 in after-hours on Friday, after the company confirmed that biotech major Biogen (Nasdaq: BIIB) has made a nonbinding proposal to acquire all of the outstanding shares of Sage not already owned by Biogen for $7.22 per share.

The offer price, representing a 30% premium to the stock's close on Friday, values Sage's equity at $441.7 million, according to Reuters.

The Sage board of directors stated that it will carefully review and evaluate the proposal made by Biogen to determine the course of action that it believes is in the best interest of the company and all Sage shareholders.

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