Shares of Trillium Therapeutics Inc. TRIL,
it nearly tripled on Monday in pre-market trading, soaring 189.3%, after the immuno-oncology company announced a deal that Pfizer Inc. PFE would acquire,
in a $ 2.262 billion cash deal. Under the terms of the agreement, Pfizer will pay $ 18.50 for each Trillium share it does not yet own, which is 203.8% above Friday’s closing price of $ 6.09. Pfizer shares rose 4.0% ahead of open ones. “Trillium’s acquisition proposal is based on our strong leadership track record in Oncology, improving our hematology portfolio as we strive to improve the outcomes of people living with blood cancer around the world,” he said. dir Andy Schmeltz, president of Pfizer Oncology. Trillium shares have fallen 24.1% in the last three months to Friday, while Pfizer shares have risen 22.4% and the S&P 500 SPX,
has gained 6.9%.