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InsideArbitrage Potential Deal Alert: Concentra Biosciences Offers To Buy Atea Pharmaceuticals (AVIR)

  • May 22, 2023


StockAtea Pharmaceuticals, Inc.SymbolAVIR
Date Announced05/22/2023Source Press Release
TypeUnsolicited BidAcquiring Company/Person Concentra Biosciences

According to the 13D filing,  Concentra Biosciences offered to buy Atea Pharmaceuticals (AVIR) for $5.75 a share in cash.

May 30, 2023: Atea Pharmaceuticals, Inc. (AVIR) announced that its Board of Directors unanimously rejected the unsolicited proposal from Tang Capital Partners, LP on behalf of Concentra Biosciences, LLC to acquire all outstanding common shares of Atea for $5.75 per share in cash, plus a contingent value right representing the right to receive 80% of the net proceeds payable from any license or disposition of Atea’s programs.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.