89Bio (ETNB) Soars 86 Percent to Historic High on $3.5-Billion Roche Merger

Core Viewpoint - 89bio Inc. is set to be acquired by Roche for $3.5 billion, leading to a significant surge in its stock price, reaching a record high [1][3]. Group 1: Acquisition Details - Roche has entered into a definitive agreement to acquire 89bio Inc. to enhance its portfolio in innovative therapies for cardiovascular, renal, and metabolic diseases [3]. - The acquisition involves a tender offer for all outstanding shares of 89bio at a price of $14.50 per share, along with potential milestone payments of up to $6.00 per share, bringing the total deal value to approximately $3.5 billion [4]. - The acquisition price represents a 52% premium over 89bio's 60-day volume weighted average price as of September 17 [5]. Group 2: Stock Performance - During intra-day trading, 89bio's shares soared by as much as 86% to a 52-week high of $15.06, ultimately closing up 85.15% at $14.96 [2].