Vanda Pharmaceuticals Receives Another Takeover Proposal, Considers $466M Deal
Portfolio Pulse from Vandana Singh
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) received a $466 million acquisition offer from Cycle Pharmaceuticals Ltd, valuing VNDA at $8 per share. Vanda's board will review the offer. Previously, Vanda rejected a lower offer from Future Pak LLC. VNDA shares rose 24.3% to $6.28 following the news.
June 06, 2024 | 4:13 pm
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Vanda Pharmaceuticals received a $466 million acquisition offer from Cycle Pharmaceuticals, valuing the company at $8 per share. This follows a previous rejection of a lower offer from Future Pak LLC. VNDA shares rose 24.3% to $6.28.
The acquisition offer from Cycle Pharmaceuticals at $8 per share is significantly higher than the previous offer from Future Pak LLC, which Vanda rejected. This new offer has led to a substantial increase in VNDA's share price, indicating positive market sentiment and potential for further gains if the deal proceeds.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100