Vanda Pharmaceuticals' Board of Directors has rejected unsolicited takeover proposals from Future Pak and Cycle Pharma, deeming them not in the best interests of the company and its shareholders. The Board stated that the offers substantially undervalue the company and criticized them as opportunistic attempts to secure shares at a discount. As a result of the rejection, Vanda Pharmaceuticals' stock dropped by 6.2% in pre-market trading.
Vanda rejects buyout offers, pans 'opportunistic attempts' at securing its shares at a discount https://t.co/tWWpgK09JJ
$VNDA (-6.2% pre) Vanda Pharmaceuticals Board of Directors Determines that Recent Unsolicited Takeover Proposals Are Not in the Best Interests of the Company and its Shareholders - SI https://t.co/eCXhwpLl8l
Vanda $VNDA Board Rejects Proposals Because They Are 🤡🤡 What a 💩show (no position, just amusement) https://t.co/YzTmJMYm9R https://t.co/Q6v5KzUZyF
$VNDA the unsolicited proposals from Cycle Group and from Future Pak to acquire Vanda substantially undervalue the Co. Accordingly, the Board has rejected both the proposals.
Vanda rejects Future Pak and Cycle Pharma's takeover offers https://t.co/3tfemipuvd
Vanda Pharmaceuticals Board of Directors Determines that Recent Unsolicited Takeover Proposals Are Not in the Best Interests of the Company and its Shareholders $VNDA https://t.co/TYoa0MLd22
Voxtur Shareholders vs Predators $VXTR $VXTRF https://t.co/tqfyd23Zql