UK High Court Approves Lilly's Acquisition of Centessa, Paving Way for Deal Close
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.