SEOUL -- South Korea's LG Chem will buy Aveo Pharmaceuticals in a deal valued at $566 million, tapping the oncology-focused American drugmaker to expand its foothold in the growing biopharmaceutical market.
LG Chem will pay $15 a share for all of Aveo's outstanding stock, according to an announcement this week. The transaction is expected to close in early 2023, once it is greenlighted by shareholders.
