TDCX Receives Acquisition Offer and Other Big Stocks Move Higher TDCX Receives Acquisition Offer and Other Big Stocks Move Higher

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By Ronald Tech


U.S. stocks traded lower, with the Nasdaq Composite falling around 150 points on Wednesday.

TDCX Inc. (TDCX) saw a significant surge in its stock price after disclosing the reception of a preliminary non-binding acquisition offer.

The company’s Founder, Executive Chairman, Director, and CEO, Laurent Junique, extended the acquisition offer at a price of $6.60/share or ADS in cash. In response, a special committee of the Board, consisting of independent and disinterested directors, has been formed to deliberate on the proposal letter dated Jan. 2, 2024.

TDCX shares surged 28% to $6.18 on Wednesday.

In addition to TDCX, several other stocks made notable gains in today’s session:

  • Dyne Therapeutics, Inc. (DYN) shares soared by 16.2% to $15.17 as it released preliminary clinical data from its ACHIEVE trial of DYNE-101 in patients with myotonic dystrophy type 1 (DM1) and its DELIVER trial of DYNE-251 in patients with Duchenne muscular dystrophy (DMD) who are amenable to exon 51 skipping.
  • Voyager Therapeutics, Inc. (VYGR) gained 16.1% to $10.45.
  • Gaotu Techedu Inc. (GOTU) climbed 15.1% to $3.7601.
  • Arrowhead Pharmaceuticals, Inc. (ARWR) surged 7% to $33.17 after reporting pricing of offering of 15.79 million shares at $28.50 per share.
  • NaaS Technology Inc. (NAAS) rose 6.9% to $1.54.
  • Anavex Life Sciences Corp. (AVXL) rose 6.5% to $6.44, despite HC Wainwright & Co. analyst Raghuram Selvaraju maintaining a Buy rating and lowering the price target from $54 to $40.
  • Collegium Pharmaceutical, Inc. (COLL) rose 6% to $33.11.
  • Jumia Technologies AG (JMIA) gained 5.4% to $3.5412, following an upgrade by Morgan Stanley analyst Luke Holbrook from Underweight to Equal-Weight, accompanied by a price target raise from $3 to $3.6.
  • Arrowhead Pharmaceuticals, Inc. (ARWR) climbed 5.3% to $32.66 after reporting pricing of offering of 15.79 million shares at $28.50 per share.
  • Pure Storage, Inc. (PSTG) rose 5.1% to $36.58 as it was announced the company will join the S&P MidCap 400.
  • Tourmaline Bio, Inc. (TRML) gained 5% to $27.83.
  • TAL Education Group (TAL) rose 4.9% to $12.37.
  • Suncor Energy Inc. (SU) gained 4.2% to $33.45.
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