AstraZeneca PLC To Acquire Omthera Pharmaceuticals Inc

Tuesday, 28 May 2013 02:00am EDT 

AstraZeneca PLC announced that it has entered into a definitive agreement to acquire Omthera Pharmaceuticals Inc. Under the terms of the agreement, AstraZeneca will acquire Omthera for $12.70 per share, or approximately $323 million, which has an Enterprise Value of approximately $260 million after incorporating Omthera's cash balances of approximately $63 million. This represents a premium of 88% on Omthera's closing price on May 24, 2013. In addition to the cash payment, each Omthera shareholder will receive Contingent Value Rights (CVRs) of up to approximately $4.70 per share, equating to approximately $120 million in total, if specified milestones related to Epanova are achieved, or if a milestone related to global net sales is achieved. This will bring the total potential acquisition cost to approximately $443 million. 

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