Acceleron Pharma (NASDAQ:XLRN) shares are trading higher after Bloomberg reported the company is in talks for a potential $11 billion buyout.
According to people familiar with the matter, Acceleron could be acquired by a large pharmaceutical company for about $180 a share in cash, Bloomberg reported. However, Bloomberg was unable to identify any bidders in the deal.
Acceleron Pharma is a biotechnology company focused on the discovery, development, and commercialization of novel therapies. The company’s research focuses on key natural regulators of cellular growth and repair.
At last check, Acceleron Pharma was trading 5.57% higher at $176.98 per share.
The stock has a 52-week high of $174.23 and a 52-week low of $99.98.
