Brief: Ironwood Pharma To Acquire VectivBio For $1.15 Billion

Ironwood Pharmaceuticals

22/05/2023 12:43

May 22 (Reuters) - Ironwood Pharmaceuticals Inc
 IRWD.O :
    * IRONWOOD ENTERS INTO DEFINITIVE AGREEMENT TO ACQUIRE
VECTIVBIO,
A CLINICAL-STAGE BIOTECH COMPANY PIONEERING NOVEL TREATMENTS FOR
SEVERE RARE GASTROINTESTINAL DISEASES
    * IRONWOOD PHARMACEUTICALS INC - IRONWOOD TO COMMENCE
ALL-CASH
TENDER OFFER TO ACQUIRE ALL OUTSTANDING SHARES OF VECTIVBIO FOR
$17.00 PER SHARE
    * IRONWOOD PHARMACEUTICALS INC - PROPOSED DEAL FOR
APPROXIMATELY
$1 BILLION, NET OF VECTIVBIO CASH AND DEBT
    * IRONWOOD PHARMACEUTICALS INC- EXPECTS TO FINANCE
ACQUISITION
WITH CASH ON HAND AND FUNDS DRAWN THROUGH A FOUR-YEAR, $500
MILLION REVOLVING CREDIT FACILITY
    * IRONWOOD PHARMACEUTICALS INC - DEAL IS EXPECTED TO BE
ACCRETIVE
TO EARNINGS PER SHARE BEGINNING IN 2026

Source text for Eikon:  ID:nBw4FMgKda 
Further company coverage:  IRWD.O 

 ((Reuters.Briefs@thomsonreuters.com;))