LianBio confirms unsolicited $4.30/share buyout proposal from Concentra plus CVR

LianBio

Proposal: $4.30 per share cash plus a contingent value right for 80% of net proceeds from licensing or disposition of LianBio's programs.
Concentra Biosciences (controlled by Tang Capital Partners) made the offer; Tang Capital currently holds ~8.6% of LianBio.
Proposal requires LianBio to have at least $515 million in cash and cash equivalents at closing, net of liabilities and costs.
Board is reviewing the unsolicited non-binding proposal in the best interests of shareholders; further announcement expected.

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