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Zymeworks (ZYME) Confirms Receipt of Unsolicited, Non-Binding Proposal from All Blue Falcons

  • April 28, 2022

POTENTIAL DEAL DETAILS

StockZymeworks Inc.SymbolZYME
Date Announced04/28/2022Source Press release
TypeUnsolicited BidAcquiring Company/Person All Blue Falcons FZE

Zymeworks Inc. (ZYME), a clinical-stage biopharmaceutical company developing next-generation multifunctional biotherapeutics, confirmed it has received an unsolicited, non-binding proposal from All Blue Falcons FZE (“ABF”) and its affiliates to purchase the Company for $10.50 per share in cash.

Update(s):

May 3, 2022: Investment firm All Blue Capital would be advised by Alan Barge, former oncology head at British drugmaker AstraZeneca Plc (AZN), in its bid to acquire drug developer Zymeworks Inc (ZYME)

May 20, 2022: Zymeworks Inc. (ZYME), announced that its Board of Directors, after thorough consultation with its financial and legal advisors, unanimously determined that the unsolicited, opportunistic, non-binding proposal from an activist shareholder, All Blue Falcons FZE, and its affiliates to purchase Zymeworks for $10.50 per share substantially undervalues Zymeworks and is not in the best interest of the Company and its shareholders.

June 10, 2022:  Zymeworks Inc. (ZYME), announced that its board of directors has adopted a limited-duration shareholder rights plan.

The Board adopted the Rights Plan in response to the unsolicited, non-binding proposal by All Blue Falcons FZE to acquire Zymeworks and All Blue’s continued share accumulations.

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.