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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Zogenix Inc | NASDAQ:ZGNX | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 26.68 | 29.46 | 26.68 | 0 | 01:00:00 |
From Apr 2021 to Apr 2024
By Cristina Roca
UCB SA has agreed to buy biopharmaceutical company Zogenix Inc. in a deal worth up to about $1.9 billion.
The two companies said Wednesday that UCB will launch a tender offer on all outstanding Zogenix shares for $26 a share in cash at closing.
Shares in Zogenix, which commercializes and develops therapies for rare diseases, closed at $15.64 on Tuesday.
The deal is expected to be accretive to UCB's earnings from next year.
The companies also agreed to a contingent value right for a potential cash payment of $2 a share upon European Union approval of fintepla as an orphan medicine for treatment of Lennox-Gastaut syndrome by the end of 2023.
Both companies' boards have unanimously approved the transaction. Closing is expected in the second quarter of the year, and remains subject to a majority of the total number of Zogenix's outstanding shares being tendered, as well as antitrust clearances.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
January 19, 2022 01:44 ET (06:44 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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