Centessa Clears Key US Antitrust Hurdle for Eli Lilly Acquisition
CNTA has more than doubled off its 52-week low of $10.95 on light trading volume (0.3× avg).
Summary
Centessa Pharmaceuticals announced the expiration of the HSR waiting period, clearing a significant U.S. antitrust hurdle for its acquisition by Eli Lilly. This follows the definitive agreement announced in March for $38.00 per share plus a CVR, and an 8-K filing minutes prior to this news. The expiration of the HSR period removes a major regulatory risk, bringing the deal closer to completion. Shareholder approval and High Court sanction are the remaining conditions for closing.
At the time of this announcement, CNTA was trading at $39.76 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $10.95 to $40.26. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.