H. Lundbeck A/S entered into a merger agreement on October 14, 2024, to acquire U.S.-based Longboard Pharmaceuticals, Inc. (LBPH) in a $2.6 billion cash deal, marking the Danish drugmaker’s biggest deal ever as it looks to strengthen its lineup with a potential breakthrough epilepsy drug.
Under the terms of the agreement, Lundbeck will commence a tender offer for all outstanding shares of Longboard common stock, in which Longboard shareholders will be offered a cash payment of $60 per share, representing a 54.24% premium from the stock’s last close.