LianBio's Board Of Directors Unanimously Determines Not To Pursue Unsolicited Proposal From Concentra Biosciences
Portfolio Pulse from Benzinga Newsdesk
LianBio's Board of Directors has unanimously decided not to pursue an unsolicited acquisition proposal from Concentra Biosciences. The offer was to acquire all LianBio equity for $4.30 per share in cash, plus a contingent value right. The Board believes the proposal undervalues the company and is not in the best interests of LianBio or its shareholders.
December 06, 2023 | 9:17 pm
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LianBio's Board has rejected an unsolicited acquisition offer from Concentra Biosciences, believing it undervalues the company. This decision may reinforce investor confidence in the company's valuation and future prospects.
The Board's rejection of the acquisition proposal suggests confidence in LianBio's intrinsic value and growth potential, which could positively influence investor sentiment and support the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100