Bristol-Myers almost lost Karuna buyout to third party [Seeking Alpha]
Karuna Therapeutics, Inc. (KRTX)
Company Research
Source: Seeking Alpha
Karuna Therapeutics ( KRTX ) last month in a hard-won battle, according to an SEC filing on Monday. The details disclosed in Karuna's ( KRTX ) proxy statement filed in connection with the deal didn't identify the other bidder. Calling it Party A, KRTX said that the potential acquirer offered to buy the company shares on Oct. 11 at a significant premium to its closing price of $175.94 per share in the previous session. Karuna's ( KRTX ) interactions with the first bidder continued until at least Dec. 21, when Party A submitted a final proposal for an all-cash deal that was significantly higher than its initial bid. Bristol-Myers ( BMY ) also submitted its final proposal for an all-cash consideration of $330.00 per share without any contingent value right (CVR), which was part of its initial bid on Dec. 12. BMY's bid exceeded the valuation Party A indicated, and Karuna's ( KRTX ) management approved the deal during a board meeting just before the final agreement was announced on
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KRTX
News
- PureTech Proposes $100 Million Capital Return [Yahoo! Finance]Yahoo! Finance
- Bristol Myers Squibb Completes Acquisition of PureTech's Founded Entity Karuna Therapeutics for $14 Billion [Yahoo! Finance]Yahoo! Finance
- Loss-Making Karuna Therapeutics, Inc. (NASDAQ:KRTX) Expected To Breakeven In The Medium-Term [Yahoo! Finance]Yahoo! Finance
- Sofinnova Investments Appoints Troy Ignelzi as Executive Advisor [Yahoo! Finance]Yahoo! Finance
- Bronte Amalthea Fund Incurred Loss in Karuna Therapeutics (KRTX) Short Position [Yahoo! Finance]Yahoo! Finance
KRTX
Earnings
- 2/22/24 - Miss
KRTX
Sec Filings
- 3/18/24 - Form 4
- 3/18/24 - Form 4
- 3/18/24 - Form 4
- KRTX's page on the SEC website