Curium to Acquire Lantheus for $102.50/Share Cash Plus Up to $12/Share in CVRs
LNTH has more than doubled off its 52-week low of $47.25.
Summary
Curium US has announced a definitive agreement to acquire Lantheus, confirming earlier reports of a potential merger. The acquisition is structured at $102.50 per share in cash at closing, supplemented by non-transferable contingent value rights (CVRs) that could provide up to an additional $12 per share. This arrangement caps the potential total consideration at $114.50 per share, representing a 13% premium over Lantheus's last closing price of $101.41. The deal values Lantheus Holdings at an initial $6.7 billion, with an approximate total value of $7 billion including the CVRs, which are tied to future milestones. This definitive agreement follows a Reuters report on July 27, which indicated Curium was nearing a deal at roughly $102 per share upfront with an unspecified CVR. The focus now shifts to securing regulatory approvals and the achievement of the specific milestones for the CVR payouts.
At the time of this announcement, LNTH was trading at $101.41 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.5B. The 52-week trading range was $47.25 to $111.86. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.