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Wall Street Closes Higher, Samsung rumoured to acquire Biogen, SpaceX raises $337 million

Wall Street closed mostly higher on Wednesday with the Dow Jones Industrial Average index closing 0.25% higher at the end of the trading session. The Nasdaq 100 was unchanged while the S&P 500 advanced 0.14% with Biogen emerging as the best performer at both indexes after jumping 9.46%.

Samsung to buy Biogen for $42B

Samsung Group is in talks to acquire Biogen Inc. ($BIIB) for approximately $42 billion according to Korea Economic Daily.

Biogen Inc., a leading US-based drugmaker for neurological conditions such as Alzheimer’s and dementia. Biogen is listed on the Nasdaq with a current market cap of about $35 billion. 

According to Reuters, Samsung BioLogics, the biotech unit of Samsung Group, said in a regulatory filing that the report was “not true,” without giving any more details. Biogen ($BIIB) on the other hand said it does not comment on market rumors or speculation. Its stock closed up 9.46% on Wednesday.

SpaceX raises more than $337 million

Space Exploration Technologies Corp. (SpaceX) on Wednesday revealed in a document submitted to the United States Securities and Exchange Commission (SEC) that it raised over $337 million in funding through a share sale.

The first equity sale from the latest offering took place on December 14, according to the filing. In October, Elon Musk’s company was valued at more than $100 billion, according to a media report.

READ;

US stocks Mixed on Tuesday

SpaceX Raises $850 Million in Funding

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