Banks Compete to Arrange $4.25B Debt Backing Curium's Lantheus Buyout
LNTH sits 99% above its 52-week low of $50.155.
Summary
Banks are jockeying to arrange roughly $4.25 billion of debt to fund Curium's acquisition of Lantheus, according to Bloomberg. That is the financing leg of the $8 billion all-cash deal shareholders approved on October 14, which pays $102.50 a share plus CVRs worth up to $12 tied to pipeline milestones. The size of the debt package matters because it shows the buyout is being actively financed rather than stalled, and it is a meaningful chunk of the total consideration for a company of Lantheus' size. For holders, the equity story is now almost entirely about deal completion and the CVR milestones, not standalone operations.
At the time of this announcement, LNTH was trading at $100.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.5B. The 52-week trading range was $50.16 to $111.86. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.