Reported Wednesday, Vanda Pharmaceuticals Rejects Unsolicited Takeover Bids, Citing Undervaluation
Portfolio Pulse from Benzinga Newsdesk
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) has rejected unsolicited takeover bids from Cycle Group Holdings Ltd and Future Pak, LLC, citing undervaluation. The Board determined that the offers of $8.00 and $8.50-$9.00 per share, respectively, do not reflect the company's true value.
June 20, 2024 | 5:49 am
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Vanda Pharmaceuticals has rejected unsolicited takeover bids from Cycle Group and Future Pak, stating that the offers undervalue the company. This decision may lead to short-term volatility in VNDA's stock price as investors react to the news.
The rejection of the takeover bids indicates that the Board believes the company's value is higher than the offers. This could lead to mixed reactions from investors, causing short-term volatility in the stock price. However, the long-term impact will depend on the company's future performance and any potential new offers.
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