Angelini Pharma Completes $4.1B Catalyst Takeover, Shares Delisted
Summary
Angelini Pharma completed its $4.1 billion acquisition of Catalyst Pharmaceuticals at $31.50 per share in cash, delisting the rare-disease drug maker from Nasdaq. The deal, first reported in April and approved by shareholders on July 8, creates a global rare-neurology platform for the Italian group. Italian state lender CDP Equity invested approximately €1 billion for a 23.5% stake in Angelini, while Blackstone provided €1 billion in preferred equity, with BNP Paribas also supporting the transaction. For Catalyst shareholders, the all-cash exit at a premium is now final; the stock will cease trading. The focus shifts to Angelini's integration and growth strategy in the U.S. rare-disease market.
At the time of this announcement, CPRX was trading at $31.49 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.9B. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Reuters.