Lundbeck Agrees To Acquire Longboard Pharmaceuticals In Transaction Valued At Approximately $2.6B Equity Value
Portfolio Pulse from Benzinga Newsdesk
Lundbeck has agreed to acquire Longboard Pharmaceuticals for approximately $2.6 billion in equity value. The deal offers Longboard shareholders $60 per share, a 77% premium over the 30-day VWAP as of September 30, 2024. The transaction is expected to close in Q4 2024, pending regulatory approvals.
October 14, 2024 | 10:32 am
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Longboard Pharmaceuticals is being acquired by Lundbeck for $60 per share, a 77% premium over its 30-day VWAP. The deal is valued at $2.6 billion and is expected to close in Q4 2024.
The acquisition by Lundbeck at a significant premium is likely to positively impact Longboard's stock price in the short term as investors react to the premium offer. The deal's approval by both boards and the expected closing in Q4 2024 further solidify this outlook.
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