Biotech Values

[DewDiligence]

In_yet_another “Chevron” case, US District Court overrules FTC, allowing SRDX to be acquired by private-equity firm GTCR:

https://www.businesswire.com/news/home/20251110939371/en/Surmodics-Announces-U.S.-District-Court-Denies-Request-for-Preliminary-Injunction-to-Block-Proposed-Acquisition-by-GTCR

The buyout price is $43.0/sh cash, a 41% premium to SRDX closing price prior to the 5/29/24 announcement of the deal (https://www.gtcr.com/surmodics-enters-into-definitive-agreement-to-be-acquired-by-gtcr-for-43-00-per-share-in-cash-representing-an-approximate-equity-value-of-627-million/ ). The nominal deal value is $627M.