ACPGF - Eagle Pharmaceuticals to acquire U.K.-based Acacia Pharma

Eagle Pharmaceuticals (NASDAQ:EGRX) is acquiring U.K.-based Acacia Pharma Group (OTCPK:ACPGF). The terms of the proposed transaction value Acacia’s existing issued and to be issued share capital at ~€94.7M, or €0.90 per share. Eagle will pay ~€71.6M in cash and the remaining ~€23.2M is expected to be paid in Eagle common shares. Acacia Pharma stockholders will receive, €0.68 in cash and 0.0049 common stock of Eagle for 1 share of Acacia. The agreement also provides for Eagle to guarantee ~€25M of debt within Acacia. Certain shareholders and directors owning Acacia shares delivered to the companies deeds of irrevocable undertaking. The transaction is expected to provide Eagle with two marketed products: Byfavo, a sedative medicine for adults undergoing procedures lasting 30 minutes or less; Barhemsys approved in U.S. for rescue treatment of postoperative nausea and vomiting (PONV) despite prophylaxis; also approved for preventing/treating PONV who have not received prophylaxis. The company expects the transaction to be earnings accretive

For further details see:

Eagle Pharmaceuticals to acquire U.K.-based Acacia Pharma