Liminal BioSciences surges on Thomvest's buyout offer

Liminal BioSciences

05/04/2023 14:54

(Updates)
    ** Shares of biopharma co Liminal Biosciences  LMNL.O 
nearly double in early trading to $7.06 - hitting highest levels
in over five months   
    ** Peter Thomson-backed Thomvest Asset Management has
proposed to acquire the remaining shares it does not already own
in LMNL for $7.50 per share in cash 
    ** Thomvest owns 64% stake in LMNL through its investment
firm Structured Alpha LP 
    ** The offer represents a 107.2% premium to LMNL's last
close of $3.62 on Tuesday 
    ** LMNL confirms receipt of proposal, says board will review
proposal to determine course of action 
    ** As of last close, LMNL up ~11.4% so far this year 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))