By Stephen Nakrosis
Shares of pharmaceutical-testing company PPD Inc. are trading higher Thursday, following news that Thermo Fisher Scientific Inc. agreed to acquire the company for $47.50 a share.
At 12:45 p.m. ET, shares of PPD had risen 6.73%, to $45.89. Volume at the time topped 42.4 million shares, above the stock's 65-day average volume of just more than one million shares.
Earlier in the session, the company's shares touched a 52-week high of $46.34.
At 12:46 p.m. ET, Thermo Fisher shares were trading 3.72% higher, at $495.85.
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(END) Dow Jones Newswires
April 15, 2021 13:11 ET (17:11 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.