VNDA - Neuropsychiatric-Focused Vanda Pharmaceuticals Rejects Future Pak's Takeover Bid Valued Up To $7.75/Share | Benzinga
On Wednesday, Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) confirmed that, since March 2024, it had received several unsolicited proposals from Future Pak LLC to acquire all of Vanda’s outstanding shares.
The most recent proposal offered $7.25 – $7.75 per share, subject to certain terms and conditions.
The current proposal implies a premium of 79.0% to 91.4% to Vanda’s closing price of $4.05 as of April 16, 2024.
The Vanda Board of Directors concluded that the offers were not in the company’s and its shareholders’ best interests, as it significantly undervalued the company.
Vanda said it had established a resilient business with a ...