Celgene To Acquire Receptos For $7.2 Bln

(RTTNews) - Celgene Corp. (CELG) Tuesday said it agreed to buy Receptos Inc. (RCPT) for about $7.2 billion in cash.

Celgene will acquire all of the outstanding shares of Receptos through a wholly-owned subsidiary for $232.00 a share in cash. The transaction has been approved by the boards of directors of both companies and is subject to customary closing condition. The deal is expected to close this year itself.

Celgene said the acquisition of Receptos significantly enhances its Inflammation & Immunology portfolio, further diversifies the company's revenue beginning in 2019 and beyond, and builds upon Celgene's growing expertise in inflammatory bowel disease.