Reported Earlier: H. Lundbeck A/S Submits Tender Offer To Acquire Longboard Pharmaceuticals At $60 Per Share In Cash, Marking Significant Premium; Merger Would Make Longboard A Wholly-Owned Lundbeck Subsidiary With Accelerated Equity Vesting For Employees; Offer Expires November 27, 2024
Portfolio Pulse from Benzinga Newsdesk
H. Lundbeck A/S has submitted a tender offer to acquire Longboard Pharmaceuticals at $60 per share in cash, representing a significant premium. The merger would make Longboard a wholly-owned subsidiary of Lundbeck, with accelerated equity vesting for employees. The offer expires on November 27, 2024.
October 30, 2024 | 2:37 pm
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Longboard Pharmaceuticals is set to be acquired by H. Lundbeck A/S at $60 per share, a significant premium. This acquisition will make Longboard a wholly-owned subsidiary, with benefits like accelerated equity vesting for employees.
The acquisition offer at $60 per share is a significant premium over the current market price, likely leading to a short-term increase in LBPH's stock price. The merger will also provide benefits like accelerated equity vesting for employees, making it an attractive offer.
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