Paratek Pharmaceuticals to Be Acquired in Deal Worth Up to $462 Million
June 06 2023 - 8:59AM
Dow Jones News
By Colin Kellaher
Paratek Pharmaceuticals on Tuesday said it agreed to be acquired
by a pair of healthcare investors in a deal valued at up to $462
million, including the assumption of debt.
Under the agreement, healthcare-investment firm Gurnet Point
Capital and investment and holdings company Novo Holdings would pay
an initial $2.15 a share in cash for the Boston biopharmaceutical
company, a 9.7% premium to Monday's closing price of $1.96.
Paratek said its shareholders would also receive contingent
value rights tied to commercial milestone that are potentially
worth another 85 cents a share, bringing the total potential deal
value to $3 a share, a 53% premium.
The transaction is slated to close in the third quarter.
Novo Holdings is owned by the Novo Nordisk Foundation, a Danish
organization that controls healthcare giant Novo Nordisk.
Trading in shares of Paratek was halted premarket on
Tuesday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 06, 2023 09:44 ET (13:44 GMT)
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