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Why MyoKardia Stock Is Soaring Today

TheMotleyFool

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Shares of the heart disease specialist MyoKardia (NASDAQ: MYOK) jumped by a healthy 59% in pre-market trading Monday morning. The biopharma's stock ripped higher in early-morning action today in response to a $13.1 billion definitive merger agreement with Bristol Myers Squibb (NYSE: BMY).

Bristol's buyout offer of $225 per share represents a 61% premium over where MyoKardia's shares closed last Friday. The two companies said this all-cash merger transaction should close during the fourth quarter of 2020.

Image Source: Getty Images.

Source Fool.com

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