Question: On Monday, December 1 2 , 2 0 2 2 Amgen, Inc. ( Nasdaq: AMGN ) and Horizon Therapeutics Public Limited Company ( Nasdaq:HZNP )
On Monday, December Amgen, Inc. Nasdaq: AMGN and Horizon Therapeutics Public Limited Company Nasdaq:HZNP announced that they had entered into a definitive agreement under which a subsidiary of Amgen will acquire all outstanding shares and to be issued shares of Horizon Therapeutics for $ per share in cash, representing a total enterprise value of $ billion. On the day of the announcement AMGNs price closed at $ and HZNPs price closed at $ HZNPs price on the last trading day prior to the announcement was $ while AMGN's price was $ The deal was set to close June If HZNP had a closing price of $ with days to close when an arbitrageur purchased HZNP then what was the expected annualized return on the trade at the time of the transaction. Assume a day year. Enter the percentage value and round your answer to two decimal places.Example is entered as
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