Merger activity increased last week with four new deals announced and three deals completed.
Incorporated in 2019 and headquartered in New York, Kadmon Holdings (KDMN) is a biopharmaceutical company that focuses on discovery, and development of transformative therapies for unmet medical needs. Rezurock (belumosudil), an oral, once-daily tablet, is approved by the FDA in the United States for the treatment of adult and pediatric patients 12 years and older with chronic graft-versus-host disease (cGVHD) after failure of at least two prior lines of systemic therapy. In just over a month after announcing the acquisition of Translate Bio (TBIO), French drugmaker, Sanofi entered into a definitive agreement to acquire Kadmon Holdings for $9.50 per share in cash, representing a premium of 79% over Kadmon’s closing price on September 7, 2021.
We have been writing about successful deals in the works in our past few posts. Another potential deal became successful last week. We added Columbia Property Trust to our list of potential deals on March 18, 2021, after Bloomberg reported that a group of CXP investors made an unsolicited proposal to acquire the company. CXP’s price after this announcement was $16.76. On September 7, 2021, Columbia Property Trust entered into an agreement to be acquired by PIMCO for $19.30 per share in cash.
You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
There were two new deals announced in the Deals in the Works section last week.