Menu
G1 Therapeutics Inc. (GTHX): $7.09
Market Cap: $374.06 M
Deal Size: $405 M
Last week brought us an interesting acquisition of G1 Therapeutics Inc. by Pharmacosmos A/S, a Denmark-based company specializing in carbohydrate chemistry and treatments for iron deficiency and anemia. Through its U.S. subsidiary, Pharmacosmos Therapeutics Inc., the company entered into a merger agreement to acquire G1 Therapeutics for about $405 million.
As per the terms of the agreement, Pharmacosmos will commence a cash tender offer to acquire all issued and outstanding shares of G1 common stock at $7.15 per share in cash, representing a 68.24% premium over the stock’s last closing price. The deal trades at a narrow spread of 0.92% and is projected to yield an annualized return of 6.57% on expectations that the deal will close in the third quarter of 2024.