Biotechnology M&A » By The Online Investor Staff, updated Fri., Apr. 19, 3:09 PM
Recent mergers and acquisitions in the Biotechnology M&A category.
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Slide #21. Emergent BioSolutions — Cangene Corporation
Acquirer:
Emergent BioSolutions (NYSE:EBS)
Acquiree:
Cangene Corporation (CNJ)
Details:
Cangene Corporation ("Cangene") (TSX: CNJ) announced that its shareholders have approved the previously announced acquisition by Emergent BioSolutions ("Emergent") (NYSE: EBS) at a special meeting held today. The acquisition will be implemented through a Plan of Arrangement under Canadian law, under which Cangene shareholders will receive US$3.24 per share (C$3.571 per share) in cash, for an aggregate purchase price of US$222 million (approximately C$245 million2).
Emergent BioSolutions is a life sciences company focused on providing preparedness and response solutions that address accidental, deliberate and naturally occurring public health threats (PHTs). The types of PHTs Co. is addressing are focused on the following five categories: chemical, biological, radiological, nuclear and explosives; emerging infectious diseases; travel health; public health crises (such as the opioid crisis and the COVID-19 pandemic); and acute, emergency, and community care. Co. operates under three separate business lines: the Government - Medical Countermeasures; the Commercial; and the Services - contract development and manufacturing.
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Avg. Broker Rec.
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Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: EBS Stock Forecast Based on Zacks ABR data; powered by Xignite |
