Ngm Biopharmaceuticals Confirmed It Received A Non-Binding Expression Of Interest From The Column Group Regarding Potential Acquisition Of All Outstanding Shares Of Common Stock Of The Company Not Already Owned By TCG In A Going-Private Transaction
Portfolio Pulse from Charles Gross
NGM Biopharmaceuticals, Inc. has received a non-binding expression of interest from The Column Group (TCG) for a potential acquisition of all outstanding shares not already owned by TCG. TCG currently owns approximately 26.7% of NGM Bio's common stock. NGM Bio's Board has formed a special committee with independent advisors to consider the offer and other strategic alternatives. There is no certainty that a definitive agreement will be reached or that a transaction will occur, and NGM Bio will not comment further unless necessary.
January 02, 2024 | 12:36 pm
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NGM Biopharmaceuticals has received a non-binding acquisition proposal from The Column Group, which may lead to a going-private transaction. The company's board is evaluating the offer with the help of independent advisors.
The news of a potential acquisition typically leads to an increase in the stock price of the target company due to the anticipation of a premium offer over the current market price. However, since the expression of interest is non-binding and there is no certainty of a deal, the impact may be moderate. The formation of a special committee and the retention of independent advisors indicate that the company is seriously considering the proposal, which adds credibility to the potential for a transaction.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100