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Lundbeck Snaps Up Epilepsy Drug With Longboard Acquisition – Merger Arbitrage Mondays

  • October 21, 2024

Longboard Pharmaceuticals, Inc. (LBPH): $59.21

Market Cap: $2.31 B

Deal Size: $2.6 B

H. Lundbeck A/S entered into a merger agreement to acquire U.S.-based Longboard Pharmaceuticals in a $2.6 billion cash deal, marking the Danish drugmaker’s largest acquisition to date as it seeks to strengthen its portfolio with a potential breakthrough epilepsy drug.

Under the terms of the agreement, Lundbeck will initiate a tender offer for all outstanding shares of Longboard common stock. Longboard shareholders will be offered $60 per share in cash, representing a 54.24% premium from the stock’s last closing price.

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