Cycle Pharmaceuticals offers $466M in cash for Vanda Pharmaceuticals at $8/share, a 58% premium.
Cycle Pharmaceuticals has made an unsolicited, all-cash offer of $8 per share to buy Vanda Pharmaceuticals for $466 million. This comes after Vanda rejected an offer from Future Pak last month. Cycle's bid represents a 58% premium to Vanda's closing price on Wednesday. Vanda will "carefully" review and evaluate the offer to determine the best course of action for its shareholders.
June 06, 2024
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