NGM Bio Has Entered Into A Definitive Agreement And Plan Of Merger With Certain Affiliates Of The Column Group, LP; NGM Bio Stockholders To Receive $1.55 Per Share In Cash, Total Equity Value Of $135M
Portfolio Pulse from Benzinga Newsdesk
NGM Biopharmaceuticals, Inc. (NGM Bio) has announced a definitive merger agreement with affiliates of The Column Group, LP, where NGM Bio stockholders will receive $1.55 per share in cash, totaling an equity value of $135M. This represents an 80% premium over the last trading day closing price before the disclosure. The transaction, recommended by a Special Committee of independent directors, is expected to close in Q2 2024, making NGM Bio a privately held company.
February 26, 2024 | 2:05 pm
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NGM Bio's stockholders are set to receive $1.55 per share in cash, an 80% premium over the last trading day closing price before the merger announcement, with the company going private in Q2 2024.
The announcement of the merger agreement and the premium offered per share is likely to have a positive short-term impact on NGM Bio's stock price. The transition to a private entity and the premium offered reflect a strong valuation and confidence from the purchasing entities, potentially leading to positive investor sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100