Watching Revance Therapeutics; Shares Trading Lower Amid Crown Laboratories Failing To Start A Tender Offer For The Co By The Friday September 13, 2024 Deadline; Crown Labs Agreed To Acquire The Co Last Month For $6.66/Share In Cash, Had Already Extended The Offer From An Original August 30, 2024 Deadline
Portfolio Pulse from Benzinga Newsdesk
Revance Therapeutics shares are trading lower after Crown Laboratories failed to start a tender offer by the September 13, 2024 deadline. Crown Labs had agreed to acquire Revance for $6.66 per share in cash, with the deadline already extended from August 30, 2024.
September 16, 2024 | 7:54 pm
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Revance Therapeutics shares are declining due to Crown Laboratories missing the tender offer deadline for their acquisition deal. The offer was for $6.66 per share, and the deadline had already been extended once.
The failure of Crown Laboratories to initiate the tender offer by the deadline creates uncertainty about the completion of the acquisition, negatively impacting Revance's stock price. The market reacts to the missed deadline, which was already extended once, indicating potential issues with the deal.
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