Privately held Menarini Group has agreed to acquire Stemline Therapeutics (NASDAQ:STML)
for $12.50 per share, consisting of $11.50 in cash plus one contingent
value right (CVR) that will pay $1.00 in cash upon the completion of the
first sale of Elzonris (tagraxofusp) in any EU5 country (UK, France,
Spain, Germany, Italy) after European Commission approval.
The transaction, financed with cash on hand, should close this quarter.
Friday’s close was $4.75.
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