Key Developments For IDM Pharma, Inc.
Takeda Pharmaceutical Company Limited Completes Acquisition of IDM Pharma Inc.
Takeda Pharmaceutical Company Limited announced the completion of its acquisition of IDM Pharma Inc. for USD2.64 per share in cash, through a short-form merger of Jade Subsidiary Corporation (Jade), a wholly owned subsidiary of Takeda America Holdings, Inc., which is a wholly owned subsidiary of Takeda, into IDM. With the consummation of the merger, IDM has become a wholly owned subsidiary of Takeda America Holdings, Inc. This acquisition adds MEPACT (mifamurtide), a therapy indicated for the treatment of osteosarcoma, to the Takeda oncology portfolio in Europe. IDM`s common stock will no longer trade on the NASDAQ Global Market. Detailed instructions will be mailed to former IDM stockholders who did not tender their shares in the tender offer that preceded the merger. These instructions will outline the steps to be taken by such former IDM stockholders to obtain the same USD2.64 per share as was paid in the tender offer. The price paid per share is subject to any required tax withholding and no interest will be paid thereon.
Takeda Pharmaceutical Company Limited Launches Takeover Bid for IDM Pharma Inc.'s Stake
Takeda Pharmaceutical Company Limited announced it has launched a takeover bid, by Jade Subsidiary Corporation, a wholly owned subsidiary of Takeda America Holdings, Inc., which is a wholly owned subsidiary of Takeda, for 21,842,929 shares of IDM Pharma Inc., from May 26, 2009 to June 22, 2009. Takeda Pharmaceutical Company Limited purchased the stock of IDM Pharma Inc. at USD 2.64 per share or USD 58 million in total.
Takeda Pharmaceutical Company Limited Commences Cash Tender Offer For All Outstanding Shares Of IDM Pharma Inc.
Takeda Pharmaceutical Company Limited announced the commencement of a cash tender offer for all outstanding shares of the common stock of IDM Pharma, Inc. for $2.64 per share, net to the seller in cash. The tender offer is being made by Jade Subsidiary Corporation, a wholly owned subsidiary of Takeda America Holdings, Inc., which is a wholly owned subsidiary of Takeda, pursuant to an Offer to Purchase, dated May 26, 2009, and the previously announced Agreement and Plan of Merger (Merger Agreement), dated May 18, 2009, by and among Takeda America Holdings, Inc., Jade Subsidiary Corporation, and IDM. The completion of the tender offer is subject to customary closing conditions. The tender offer and any withdrawal rights to which IDM stockholders may be entitled expire at 12:00 midnight, New York City time, at the end of June 22, 2009, unless the offer is extended.
Takeda Pharmaceutical Company Limited's Takeda America Holdings, Inc. To Acquire IDM Pharma, Inc.
Takeda Pharmaceutical Company Limited and IDM Pharma, Inc. announced that Takeda America Holdings, Inc., a wholly owned subsidiary of Takeda (Takeda America), and IDM Pharma have entered into an agreement for Takeda America to acquire IDM Pharma. Takeda America has established Jade Subsidiary Corporation as a wholly owned subsidiary to effect that transaction. Under the agreement, Takeda America will purchase all of IDM Pharma's outstanding shares for $2.64 per share in an all cash tender offer followed by a merger. The Takeda Oncology Company, Takeda's business unit responsible for global oncology strategy and development, will have global development responsibility for MEPACT, IDM Pharma's primary asset, and Takeda Pharmaceuticals Europe Ltd. will be responsible for commercializing MEPACT in Europe.
IDM Pharma Inc.'s MEPACT Receives Approval In Europe For Treatment of Patients With Non Metastatic, Resectable Osteosarcoma
IDM Pharma Inc. announced that the European Commission has formally granted a Centralized marketing authorization for MEPACT (mifamurtide, L-MTP-PE) for the treatment of patients with non metastatic, resectable osteosarcoma, a rare and often fatal bone tumor that typically affects children and young adults. The Centralized marketing authorization allows MEPACT to be marketed in the 27 Member States of the European Union, as well as in Iceland, Liechtenstein and Norway.
