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.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
04-15-21 1311ET