ISEE - Astellas to acquire IVERIC Bio for $5.9B
2023-05-01 04:41:56 ET
- Astellas Pharma ( OTCPK:ALPMY ) through its subsidiary, Berry Merger Sub will acquire IVERIC Bio ( NASDAQ: ISEE ) for $40 per share in cash for a total equity value of ~$5.9B.
- In the acquisition, Iveric Bio will become an indirectly wholly-owned subsidiary of Astellas.
- The purchase price represents a premium of 64% to Iveric Bio’s unaffected closing share price of $24.33 on March 31, 2023, and a premium of 75% to Iveric Bio’s 30 trading day VWAP as of March 31, 2023.
- Closing of the acquisition is expected to occur in Q2 of FY 2023.
- ISEE stock price is up 18%.
For further details see:
Astellas to acquire IVERIC Bio for $5.9B