UK High Court Approves Lilly's Acquisition of Centessa, Paving Way for Deal Close
CNTA has more than doubled off its 52-week low of $12.3.
Summary
The High Court of Justice of England and Wales has approved Eli Lilly's acquisition of Centessa Pharmaceuticals. This is a critical final regulatory step, following the initial acquisition announcement in March, HSR clearance in May, and shareholder approval in June. The 10-Q filed in May confirmed the acquisition terms of $38.00 cash per share plus a CVR. This approval significantly de-risks the transaction and confirms the deal is on track to close.
At the time of this announcement, CNTA was trading at $40.18 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $12.30 to $40.26. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.