Trillium Therapeutics' stock nearly triples after buyout deal with Pfizer valued at $2.26 billion

Shares of Trillium Therapeutics Inc. TRIL, +3.92% astir tripled successful premarket trading Monday, skyrocketing 189.3%, aft the immuno-oncology institution announced an statement to beryllium acquired by Pfizer Inc. PFE, -0.16% successful a currency woody valued $2.26 billion. Under presumption of the agreement, Pfizer volition wage $18.50 for each Trillium stock it doesn't already own, which is 203.8% supra Friday's closing terms of $6.09. Pfizer's banal roseate 4.0% up of the open. "The projected acquisition of Trillium builds connected our beardown way grounds of enactment successful Oncology, enhancing our hematology portfolio arsenic we strive to amended outcomes for radical surviving with humor cancers astir the globe," said Andy Schmeltz, president of Pfizer Oncology. Trillium's banal has shed 24.1% implicit the past 3 months done Friday, portion Pfizer shares person rallied 22.4% and the S&P 500 SPX, +0.81% has gained 6.9%.