Deciphera Pharma rises as co to be acquired by ONO Pharmaceutical for $2.4 bln

ONO PHARMACEUTICAL

29/04/2024 12:57

** Shares of cancer drugmaker Deciphera Pharmaceuticals
 DCPH.O  rise 72.3% to $25.25 premarket
    ** DCPH says Japan's ONO Pharmaceutical  4528.T  to acquire
co for $2.4 billion in cash
    ** ONO will acquire all outstanding shares of Deciphera
common stock for $25.60 per share in cash, representing premium
of 74.7% to Friday's close of $14.65
    **  Deal is expected to close in Q3 2024
    **  Upon deal's completion, Deciphera will operate from its
headquarters in Waltham, Massachusetts, as standalone business
of ONO Group
    ** Certain stockholders owning ~28% of outstanding shares of
Deciphera's common stock support the deal and will tender all of
their owned shares in the offer
    ** Up to last close, stock down ~9% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))