Liminal BioSciences jumps on buyout by Thomvest

Liminal BioSciences

12/07/2023 15:12

(Updates)
    ** Shares of drug developer Liminal Biosciences  LMNL.O 
rise ~40% to hit more than one-year high of $8.34  
    ** Stock set for biggest one-day pct gain in over 3 months,
if gains hold
    ** Says Thomvest Asset Management, a Toronto-based
investment management firm, will acquire remaining shares it
does not already own for $8.50 per share in cash
    ** Deal values company at ~$26.4 mln based on total
outstanding shares of 3.1 million, according to Refinitiv data  
    ** Thomvest already owns 64% stake in LMNL through its
investment firm Structured Alpha LP
    ** Offer represents a 43.6% premium to LMNL's last close on
Tuesday
    ** Deal is expected to close no later than Sept. 30 and is
not subject to any financing condition - LMNL
    ** Including session gains, stock has more than doubled so
far this year

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))