Biogen stock surges after report of talks to be bought by Samsung in a deal that could be valued at more than $40 billion

Shares of Biogen Inc. BIIB, +9.55% changeable up 8.9% successful day trading Wednesday, aft the Korea Economic Daily reported that the U.S.-based cause shaper is successful talks to beryllium acquired by South Korea-based conglomerate Samsung Group successful a woody that could worth Biogen astatine astir $42 billion. That would correspond an 11% premium to Biogen's existent marketplace capitalization of astir $37.88 billion. Citing concern banking sources, the study said Biogen had approached Samsung astir a woody to merchantability its shares, successful a woody valued astatine much than 50 trillion won. Back successful 2011, Samsung and Biogen had agreed to signifier a associated venture to make bio-pharmaceuticals. Biogen's banal has gained 5.0% twelvemonth to date, portion the SPDR Health Care Select Sector ETF XLV, +0.60% has rallied 24.5% and the S&P 500 SPX, +0.20% has precocious 27.6%.