Vanda Pharmaceuticals shares are trading lower after the company's board determined that recent takeover proposals were not in its best interests.
Portfolio Pulse from Benzinga Newsdesk
Vanda Pharmaceuticals shares are trading lower after the company's board rejected recent takeover proposals, deeming them not in the company's best interests.
June 20, 2024 | 11:49 am
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Vanda Pharmaceuticals shares are experiencing a decline after the board decided that recent takeover proposals were not in the company's best interests.
The rejection of takeover proposals can lead to a negative market reaction as investors may have anticipated a potential acquisition premium. The board's decision suggests that the offers were not favorable, which could be seen as a missed opportunity for value creation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100