m_and_a
confidence high
sentiment neutral
materiality 0.85
Neurocrine to acquire Soleno Therapeutics for $53.00 per share in cash
NEUROCRINE BIOSCIENCES INC
- Tender offer for all Soleno shares at $53.00 cash each; no financing condition.
- Offer requires >50% shares tendered, HSR clearance, no material adverse effect.
- Termination fees: Soleno pays $95.25M for superior proposal; Neurocrine pays $141.5M for antitrust failure.
- Soleno board recommends tender; CEO and former CFO (1.01% combined) signed support agreements.
- Deal structured as tender offer followed by merger under Section 251(h) of DGCL.
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