Sage Therapeutics Stock Soars as Biogen Makes Unsolicited Takeover Bid
1. Biogen made an unsolicited offer of $7.22 per share for Sage. 2. The bid represents a 30% premium to Sage's last closing price. 3. Sage's shares surged nearly 40% on the acquisition news. 4. Biogen already owns a 10.2% stake in Sage Therapeutics. 5. Sage Therapeutics has lost three-quarters of its value over the past year.