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Celgene buys stake in Mesoblast

This article was originally published in Scrip

Executive Summary

Celgene has agreed to buy a minority stake in Australian regenerative therapy firm Mesoblast, shelling out Aus$58.5m (US$45m) for 15.3 million shares, or around 4.8% of outstanding stock. The deal values Mesoblast's stock at Aus$3.82 per share, a 19% premium over its closing price of Aus$3.21 on 10 April, the last trading day before the transaction was announced. The firm's share price closed up 24% at Aus$3.99 on 13 April.

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