Alexion Pharmaceuticals (ALXN) buying Syngeva BioPharma (GEVA)

Alexion Pharmaceuticals Inc. (ALXN) agreed to buy Syngeva BioPharma Corp. (GEVA) for $8.4B in cash and stock (valuing Syngeva at roughly $230 a share based on yesterday’s closing prices). ALXN last traded down $15.65 (or 9.29%) to $152.90 while GEVA was last seen up $108.69 (or 113.37%) to $204.56.