RTTNews | Sep 27, 2021 10:02AM EDT

10:02 Monday, September 27, 2021 (RTTNews.com) - Shares of Acceleron Pharma Inc. (XLRN) are gaining over 5% on Monday morning on reports that an unnamed buyer is considering to buy the company for $11 billion.

XLRN is currently trading at $176.12, up $8.47 or 5.05%, on the Nasdaq. The stock has traded between $99.98 and $179.33 in the 52-week period.

On Friday, Bloomberg reported, citing people familiar with the matter, drugmaker Acceleron is in advanced talks to be acquired by a large pharmaceutical company for about $180 a share in cash.

The report says that several global drug giants, including Bristol-Myers Squibb Co., which owns 11.5% stake in Acceleron, considered to be the potential suitors.

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