Atea Pharmaceuticals Confirms Receipt Of Unsolicited Proposal From Tang Capital Partners' Affiliate, Concentra Biosciences To Acquire All Outstanding Common Shares Of Atea For $5.75/Share In Cash, Plus 80% Payable From Any License Or Disposition
Portfolio Pulse from Happy Mohamed
Atea Pharmaceuticals has received an unsolicited proposal from Tang Capital Partners' affiliate, Concentra Biosciences, to acquire all outstanding common shares of Atea for $5.75 per share in cash, plus 80% payable from any license or disposition of Atea's programs. Atea's Board of Directors will carefully review and evaluate the proposal.
May 23, 2023 | 8:14 pm
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Atea Pharmaceuticals received an unsolicited acquisition proposal from Concentra Biosciences for $5.75 per share in cash, plus 80% payable from any license or disposition of Atea's programs.
The unsolicited acquisition proposal from Concentra Biosciences could potentially lead to a higher stock price for Atea Pharmaceuticals in the short term, as investors may see this as a positive development for the company. The proposal includes a cash offer and a contingent value right, which could provide additional value to shareholders.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100