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Allergan Inc To Acquire MAP Pharmaceuticals Inc


Tuesday, 22 Jan 2013 08:35pm EST 

Allergan Inc and MAP Pharmaceuticals Inc jointly announced that they have entered into a definitive merger agreement whereby Allergan will acquire 100% of the shares of MAP Pharmaceuticals for a price of $25.00 per share. MAP Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing new therapies in Neurology, including LEVADEX, an orally inhaled drug for the potential acute treatment of migraine in adults. The transaction, which has been unanimously approved by the boards of directors of both companies, will be accomplished pursuant to a cash tender offer followed by a second step merger. The per share cash offer price represents a 60% premium over MAP’s closing stock price on the Nasdaq Stock Market of $15.58 on January 22, 2013, and represents a total equity value of approximately $958 million, on a fully-diluted basis. The acquisition is expected to close late in the first quarter or in the second quarter of 2013. 

Company Quote

212.63
0.45 +0.21%
19 Dec 2014