Argenx (ARGX.US) makes a bold $2.2 billion acquisition of Forte Biosciences (FBRX.US) at a 40% premium, strengthening its immunology drug portfolio.

According to Golden Ten Data, Dutch biotechnology company Argenx SE (ARGX.US) has agreed to acquire clinical-stage biopharmaceutical company Forte Biosciences (FBRX.US) for approximately $2.2 billion in cash, aiming to expand its portfolio of immunology drugs. On Monday, Argenx announced it will acquire Dallas-based Forte Biosciences at a price of $77 per share, representing a premium of about 40% over Forte's closing price last Friday. Argenx stated that the boards of directors of both companies have approved the transaction. The deal is expected to be completed in the third quarter, subject to customary closing conditions.