Viatris Opens $36.50/Share Cash Tender Offer for Pacira; HSR Cleared, Expires Nov 16
VTRS sits 95% above its 52-week low of $9.92.
Summary
Viatris began its $36.50-a-share all-cash tender offer for Pacira on October 30, running to November 16, after the HSR waiting period expired. The deal needs more than 50% of Pacira shares tendered and is not conditioned on financing.
Key Events · M&A and Partnerships · VTRS
-
Tender Offer Commences at $36.50 Cash
Peach Purchaser Sub Inc., a Viatris subsidiary, is offering $36.50 per Pacira share in cash for all outstanding shares, with the offer expiring one minute after 11:59 p.m. Eastern on November 16, 2026 and payment expected November 17, 2026.
-
HSR Waiting Period Cleared
The Hart-Scott-Rodino waiting period expired at 11:59 p.m. Eastern on October 29, 2026, satisfying the Regulatory Condition; the remaining key condition is more than 50% of Pacira shares being validly tendered.
-
Total Cash Need About $554.0 Million
Viatris estimates roughly $554.0 million is required to buy all shares and settle Pacira options, RSUs, PSUs, LTIP and restricted cash awards plus convertible note payments, funded from cash on hand and short-term borrowings with no financing condition.
-
Pacira Board Recommends Tendering
Pacira's board unanimously determined the $36.50 cash price is fair and recommends stockholders tender; the merger will be effected under Section 251(h) of Delaware law without a shareholder vote once the minimum condition is met.
Analysis · VTRS · Life Sciences
The tender offer is now live: Pacira holders can tender at $36.50 a share in cash until one minute after 11:59 p.m. Eastern on November 16, 2026, with payment expected November 17. The antitrust waiting period under the HSR Act expired October 29, so the main regulatory gate is already cleared and the remaining hurdle is the minimum condition — more than 50% of Pacira shares tendered. Viatris puts total cash needed at roughly $554.0 million, funded from cash on hand and short-term borrowings with no financing condition, so deal-completion risk is now mostly about tender participation rather than money. Pacira's board unanimously recommends tendering, and because the deal is structured under Section 251(h) of the Delaware law, no Pacira shareholder vote follows once the 50% threshold is met. Pacira closed at $36.39 on October 29, essentially at the offer price, so the market is already pricing near-certain completion; the residual spread is the cost of deal-break risk, with a $62 million reverse termination fee payable by Pacira in specified scenarios.
How filings like this one have moved
In the 30 days to Oct 30, 2026, 38.4% of the 908 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.42%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, VTRS was trading at $19.30 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $22.1B. The 52-week trading range was $9.92 to $19.23. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.