Deciphera Pharmaceuticals Gets $2.4 Billion Buyout Offer From ONO Pharmaceutical
By Chris Wack
Deciphera Pharmaceuticals is being bought by ONO Pharmaceutical for $25.60 a share in cash through a tender offer with a total equity value of $2.4 billion.
Deciphera shares are halted at $14.65 in premarket trading.
At the close of the transaction, Deciphera will be merged with a wholly-owned subsidiary of ONO. The boards of directors of both companies have unanimously approved the transaction.
The purchase price represents a premium of 74.7% to Deciphera's closing share price of $14.65 on Friday, and a premium of 68.8% to Deciphera's 30-trading-day volume weighted average price as of Friday.
The acquisition is expected to close in the third quarter of 2024.
Upon completion, Deciphera will operate as a standalone business of ONO Group, from its headquarters in Waltham, Mass.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
April 29, 2024 07:32 ET (11:32 GMT)
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