Cycle Pharmaceuticals has publicly announced an all-cash proposal to acquire Vanda Pharmaceuticals ($VNDA) for $8 per share. This offer represents a 58.4% premium over Vanda's current stock price. The announcement follows Cycle Pharma's unsuccessful attempt to negotiate a deal privately with Vanda's board. Vanda's stock has surged by 27.3% in pre-market trading following the news on June 6, 2024. It remains uncertain whether Vanda's management will accept the offer.
Today's M&A notes $PWSC to be acquired by Bain Capital for $22.80 cash per share, 37.0% premium, $5.6 billion $VNDA received unsolicited proposal from Cycle Pharmaceuticals at $8.00, 58.4% premium $CORZ rejected $5.75 unsolicited proposal from CoreWeave https://t.co/Z4lOOdWBGG
Interested parties circling $VNDA . Not sure if management will ever go for it, but I'd see above $6 as a decent exit point
$VNDA (+27.3% pre) Cycle Pharmaceuticals Announces All-Cash Proposal to Acquire Vanda Pharmaceuticals for $8.00 Per Share - BW https://t.co/aTSHExlEJS
This'll be interesting: Cycle Pharma just went public with a bid for Vanda, after not getting a deal with the board privately. 🥊 https://t.co/uLC0KW7psa
Cycle Pharma Announces All-Cash Proposal to Acquire $VNDA for $8/Share.