🔴 Telix Pharmaceuticals is trading 11.8% down today after announcing US$1.65 billion acquisition of ITM

Telix Pharmaceuticals is trading 11.8% down at $11.23 after announcing a US$1.65 billion acquisition of ITM Isotope Technologies Munich.

• The transaction includes approximately US$1.25 billion in Telix shares, creating substantial dilution; it includes up to US$700 million in contingent payments.
• ITM-11 recently received an FDA Complete Response Letter over manufacturing issues, heightening investor concerns.
• The decline came despite broader U.S. markets opening higher, indicating company-specific deal/execution concerns; trading volume and activity levels were not provided.