Alexion Pharmaceuticals (NASDAQ:ALXN) has agreed to acquire Achillion Pharmaceuticals (NASDAQ:ACHN) for $6.30 per share in cash for a total of ~$930M, including Achillion’s cash on hand of ~$230M.
The deal includes non-tradeable contingent value
rights (CVRs) that will pay Achillion shareholders $1.00 per share if
danicopan is approved in the U.S. and $1.00 per share upon the start of
Phase 3 development of complement factor D inhibitor ACH-5228.
The transaction should close in H1 2020.
ACHN, which closed at $3.65 yesterday, is up 81% premarket on modest volume.
https://seekingalpha.com/news/3506037-achillion-81-percent-930m-bid-alexion
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