Akero Therapeutics Stock Surges on Novo Nordisk Buyout

Novo Nordisk A/S (NYSE:NVO) is down 1% to trade at $59 this morning, after news surfaced that the pharmaceutical concern has entered an agreement to purchase U.S.-based peer Akero Therapeutics Inc (NASDAQ:AKRO) for as much as $5.2 billion in cash. AKRO is charging 16.8% higher in response, last seen at $54.29. The agreement has been unanimously approved by the Board of Directors at Akero. Novo Nordisk stock is down 31% year-to-date, succumbing to recent overhead pressure at $60. The shares have been struggl ...