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What will be the change in Longboard Pharmaceuticals' stock price by November 30, 2024, post-acquisition announcement?
3
Resolution / Starting Odds
Increase by more than 10% • 25%
Increase by less than 10% • 25%
Decrease • 25%
No significant change • 25%
Stock market data from financial platforms like Bloomberg or Yahoo Finance
Story
Lundbeck to Acquire Longboard Pharmaceuticals for $2.6 Billion at $60/Share, 77% Premium
Oct 14, 2024, 10:41 AM
Lundbeck, a Danish pharmaceutical company, has announced its acquisition of Longboard Pharmaceuticals for $60 per share in cash, valuing the deal at approximately $2.6 billion. The acquisition, which has been unanimously approved by the boards of both companies, is expected to close in the fourth quarter of 2024 pending regulatory approvals. This strategic deal aims to significantly enhance Lundbeck's neuroscience pipeline, particularly in the area of neuro-rare treatments. The transaction, representing a 77% premium to VWAP, will be funded through existing cash resources and bank financing, totaling DKK17B. Centerview LLC acted as the advisor for the deal.
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Increase by 5% or more • 33%
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Decrease by 5% or more • 33%