04:34 PM EDT, 04/10/2024 (MT Newswires) -- Vertex Pharmaceuticals ( VRTX ) agreed to acquire Alpine Immune Sciences ( ALPN ) for $4.9 billion in cash, or $65 a share, the companies said Wednesday.

They said the transaction has board approvals and is expected to close later in Q2, subject to certain conditions.

A Vertex subsidiary will launch a cash tender offer to purchase all outstanding common shares of Alpine, the biotechnology companies said.

Alpine shares surged 36% in recent after-hours activity after trading was halted earlier. Vertex fell 0.9%.

Price: 394, Change: -3.58, Percent Change: -0.9