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Will Kezar accept Concentra's $1.10/share proposal by end of 2024?
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Official press release from Kezar Life Sciences or Concentra Biosciences
Story
Kezar Life Sciences Receives $1.10/Share Proposal from Concentra Biosciences, Shares Up 4.7%
Oct 10, 2024, 12:34 PM
Kezar Life Sciences (KZR) has received an unsolicited, non-binding acquisition proposal from Concentra Biosciences. The offer includes a cash payment of $1.10 per share and a contingent value right (CVR). This proposal follows Tang Capital Management's disclosure of a 9.9% stake in Kezar as of October 1, 2024, indicating strong investment confidence in the company’s pipeline of therapies for immune-mediated and oncologic disorders. Tang Capital is the controlling stockholder of Concentra Biosciences. Kezar's shares have risen by 4.7% in premarket trading following the news.
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