Revance Therapeutics soars after Crown Labs raises offer to $3.65 a share

 Revance Therapeutics (NASDAQ:RVNC) jumped 11% in premarket trading after Crown Laboratories increased its offer above Teoxane's latest bid.

Crown Labs increased its offer to $3.65 a share, above Teoxane's $3.60 bid, according to a proxy fling on Friday.

The increased offer comes after Revance (NASDAQ:RVNC) last Wednesday said it planned to enter talks  with Teoxane after its board said that its bid is likely to be superior to Crown Labs. Teoxane offered to purchase Revance (RVNC) for $3.60 a share in cash, above Crown's $3.10 a share deal. 

Teoxane made its bid after Revance (RVNC) shares tumbled 21% on Dec. 9 after the company agreed to a revised deal with Crown Labs, with the takeover price cut by more than half from its original $6.66 a share deal agreement.

https://www.msn.com/en-us/money/topstocks/revance-therapeutics-soars-after-crown-labs-raises-offer-to-3-65-a-share/ar-AA1xnoAG