Sage declines Biogen’s $469 million requisition deal

(Reuters) -Sage Therapeutics claimed on Monday that its board has actually all denied the requisition deal it obtained from Biogen.

The firm claimed Biogen’s provide to acquire all exceptional shares of Sage that it does not currently possess for $7.22 each, “significantly undervalues Sage and believes it is not in the best interest of shareholders.”

Biogen has a 10.2% risk in Sage Therapeutics.

Sage claimed it has actually launched a procedure to discover tactical choices, however has not establish a schedule for the evaluation procedure.

(Reporting by Sneha S K; Editing by Tasim Zahid)