January 10, 2020 / 12:16 PM / 14 days ago

Sorrento receives a near $1 billion takeout offer

Jan 10 (Reuters) - Sorrento Therapeutics Inc said on Friday it had received a proposal from a private equity fund interested in acquiring a majority or all of its outstanding shares, valuing the company at as much as $993 million.

The drugmaker said it was reviewing the non-binding proposal of up to $7 per Sorrento share. (Reporting by Manojna Maddipatla in Bengaluru; Editing by Shinjini Ganguli)

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