The Chicago Entrepreneur

: Liminal Biosciences’ stock soars 91% after getting takeover offer that’s more than double its price

Liminal Biosciences Inc.’s stock LMNL soared 91% in premarket trade Wednesday, after the company said it’s received an unsolicited takeover offer of $7.50 a share from Structured Alpha LP. That company already owns 64% of the outstanding stock and is now bidding for the rest. The stock closed Tuesday at $3.62. Liminal specializes in discovering and developing novel and distinctive small molecule therapeutics to treat metabolic, inflammatory and fibrotic diseases. The board will review the offer and has formed a special committee of independent directors.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post Bed Bath & Beyond gets $120 million merchandise lifeline as it faces bankruptcy threat
Next post : FedEx stock gains after company announces dividend boost, plans to consolidate