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DewDiligence

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DewDiligence

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Re: biotech_researcher post# 1948

Thursday, 11/02/2017 9:52:15 AM

Thursday, November 02, 2017 9:52:15 AM

Post# of 2795
MNK acquires OCRX for $1.52/sh cash + CVR:

https://finance.yahoo.com/news/mallinckrodt-acquire-ocera-therapeutics-ocr-105622493.html

Mallinckrodt will commence a cash tender offer to purchase all of the outstanding shares of Ocera Therapeutics common stock for $1.52 per share (approximately $42 million), plus one Contingent Value Right to receive one or more payments in cash of up to $2.58 per share (up to approximately $75 million) based on the successful completion of certain development and sales milestones.

The buyout price (excluding the CVR) is a 49% premium to OCRX’s closing price yesterday, but a 26% discount to OCRX’s closing price on 1/27/17, before OCRX announced that its phase-2b trial missed the primary endpoint (#msg-128251911).

OCRX is currently trading above the $1.52 cash-buyout price due to the CVR.

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the foremost piece of B.S. ever promulgated
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