Published on 20 Mar 2024 on Zacks via Yahoo Finance
Fusion (FUSN) Up 99% on $2.4B Buyout Offer From AstraZeneca
Fusion Pharmaceuticals FUSN signed a definitive agreement with AstraZeneca AZN. Per the agreement terms, the pharma giant will acquire all outstanding shares of Fusion for $21 per share in cash, aggregating to $2.0 billion.
Existing Fusion shareholders will also receive one non-tradeable contingent value right (CVR) per share, entitling the holder to receive an additional $3 per share tied to a regulatory milestone. Combining the upfront and maximum potential contingent value payments, the existing shareholders are eligible to receive up to $2.4 billion in aggregate.
A clinical-stage oncology company, Fusion makes next-generation radiopharmaceuticals as precision medicines. It has a diversified pipeline of targeted alpha therapy (TAT) programs.