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Home News

Liminal BioSciences Shares Soar

by Myfxtools
August 20, 2023
in News
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Liminal BioSciences, a renowned pharmaceutical company, experienced a significant surge in its shares, with an impressive 40% increase to $8.32. This exciting development comes after the announcement that Structured Alpha, a fund managed by Thomvest Asset Management, will be acquiring all the issued and outstanding common shares of Liminal BioSciences that it does not already possess.

Impressively, the stock soared to reach its 52-week high of $8.36 earlier in the session, showcasing an impressive 41% growth within the past year alone.

The acquisition deal stipulates that Liminal BioSciences shareholders will be receiving a substantial $8.50 in cash per share. This outstanding offer represents a premium of 135% over Liminal BioSciences’ closing share price on April 4. Notably, this offer is $1 higher than Structured Alpha’s initial non-binding proposal.

To ensure the success of the acquisition, Liminal will be obligated to pay a termination fee of $322,000 to Structured Alpha in specific circumstances. This includes scenarios where Structured Alpha fails to exercise its right to match an alternative proposal that is endorsed by the company and considered superior.

The transaction is expected to conclude no later than September 30, presenting a promising future for both Liminal BioSciences and Structured Alpha.

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Tags: AcquisitionLiminal BioSciencessharesStructured Alpha
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