Ligand acquires Vernalis for $42.3mm
Ligand Pharmaceuticals Inc. launched an offer to acquire publicly traded biotech Vernalis PLC (structure-based drug discovery). The offer, which requires approval by at least 75% of Vernalis stockholders, has received support of 67% so far, including its two largest shareholders (IAML and Woodford Investment Management). Earlier this year, Vernalis announced it was looking for strategic alternatives to cope with closure of its US commercial operations.
- Full Acquisition
- Intra-Biotech Deal
- Payment Includes Cash
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