Facet Biotech Corp. (FACT) Zooms 66% In Early Part Of Wednesday Session

Abbott Laboratories (NYSE: ABT) entered into an agreement with Facet Biotech Corp. (NASDAQ: FACT) for acquisition of Facet Biotech Corp. (FACT), to enhance Abbott Laboratories’ (ABT) early and mid-stage pharmaceutical pipeline. Abbott Laboratories (ABT) will acquire Facet Biotech Corp. (FACT) for $27 per share in cash for a net transaction value of approximately $450 million as per the deal. Facet Biotech Corp. (FACT) vaulted 66.4% with high volumes in morning trading on Wednesday following the premium buyout. The stock breached convincingly above its 20 day MA, 50 MA and 200 day MA in a single session following the M&A deal between two pharma sector companies.