Cerevel Therapeutics (CERE): $42.26
Cambridge, Massachusets based Cereval Therapeutics has experienced three significant event-driven situations in just five years. The company, which focuses on treatments for neurological conditions like schizophrenia, Parkinson’s, dementia epilepsy and depression, was spun out of Pfizer in October 2018, went public by merging into a SPAC in mid-2020 and inked a deal to be acquired by AbbVie (ABBV) last month.
The deal was struck less than six months after biotech industry veteran Ron Renaud took on the top job at Cereval in June 2023. Mr. Renaud was previously the CEO of Translate Bio, which was acquired by Sanofi in September 2021.
After announcing the massive $63 billion acquisition of Allergan in June 2019 and closing the deal almost a year later, AbbVie was generally quiet on the public M&A front before announcing two back to back deal deals just days apart. AbbVie announced the $7.29 billion all cash acquisition of ImmunoGen (IMGN) on November 30, 2023 and on December 6, 2023 announced the $8.7 billion all cash acquisition of Cerevel Therapeutics (CERE).
You can find the specifics of the Cerevel deal including the nearly 79% premium AbbVie paid in the image below and and the rest of the details from our deal metrics page here.