RTTNews | Sep 8, 2021 10:25AM EDT

10:25 Wednesday, September 8, 2021 (RTTNews.com) - Shares of Perrigo Co. plc (PRGO) is rising over 6% Wednesday morning, after the company announced signing of a binding offer to acquire Hra SAS, a global consumer self-care company, from funds affiliated with private equity firm Astorg and Goldman Sachs Asset Management, for 1.8 billion, or about $2.1 billion in cash.

The transaction is expected to accelerate results for both Consumer Self-Care segments and be immediately accretive to Perrigo, adding about 400 million in net sales and about $1.00 in adjusted EPS in FY 2023.

The stock, which has been trading between $38.20 and $51.10 for the past one year, is currently trading at $44.15, up $2.55 or 6.12%, with trading volume surging over 1.40 million versus an average volume of 1.21 million shares.

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