JAZZ - Jazz to acquire GW Pharma in cash-and-stock deal valued at $7.2B

Jazz Pharmaceuticals (JAZZ) is trading ~5.3% lower in the premarket after announcing that it has agreed to acquire GW Pharmaceuticals plc (GWPH) for $220.00 per American Depositary Share.The transaction in the form of $200.00 in cash and $20.00 in Jazz ordinary shares represents ~50% of premium to GW’s previous close, valuing the deal at $7.2B in total and $6.7B net of GW cash. The cash portion is funded through a combination of cash on hand and debt financing.Already approved by the boards of directors of both companies, the transaction, subject to approval by the regulators and GW shareholders, is expected to close in Q2 2021.“We are excited to add GW's industry-leading cannabinoid platform, innovative pipeline, and products, which will strengthen and broaden our neuroscience portfolio, further diversify our revenue and drive sustainable, long-term value creation opportunities," said Bruce Cozadd, CEO of Jazz Pharmaceuticals.With the announcement of the deal, which combines the proprietary cannabinoid product

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Jazz to acquire GW Pharma in cash-and-stock deal valued at $7.2B