Brief: Biogen To Acquire Reata Pharmaceuticals

Reata Pharmaceuticals

28/07/2023 12:51

July 28 (Reuters) - Biogen Inc  BIIB.O :
    * BIOGEN TO ACQUIRE REATA PHARMACEUTICALS
    * REATA PHARMACEUTICALS INC - PROPOSED DEAL FOR $7.3 BILLION
    * REATA PHARMACEUTICALS INC - PROPOSED DEAL FOR TO ACQUIRE
REATA
FOR $172.50 PER SHARE IN CASH
    * REATA PHARMACEUTICALS INC - PROPOSED DEAL FOR ENTERPRISE
VALUE
OF APPROXIMATELY $7.3 BILLION
    * REATA PHARMACEUTICALS INC - DEAL EXPECTED TO BE
SIGNIFICANTLY
ACCRETIVE TO BIOGEN'S NON-GAAP DILUTED EPS BEGINNING IN 2025
    * REATA PHARMACEUTICALS INC - PROPOSED DEAL FOR $172.50 PER
SHARE
IN CASH
    * REATA PHARMACEUTICALS INC - BIOGEN EXPECTS TO FINANCE
ACQUISITION WITH CASH ON HAND, SUPPLEMENTED BY ISSUANCE OF TERM
DEBT
    * REATA PHARMACEUTICALS INC - BIOGEN PLANS TO UPDATE ITS
FULL YEAR
2023 FINANCIAL GUIDANCE IN CONJUNCTION WITH ITS Q3 2023 EARNINGS
RELEASE
    * REATA PHARMACEUTICALS INC - DEAL CURRENTLY ANTICIPATED TO
CLOSE
IN Q4 OF 2023
    * REATA - BIOGEN ENTERED INTO VOTING AND SUPPORT AGREEMENTS
WITH
CERTAIN STOCKHOLDERS OF CO REPRESENTING ABOUT 36% OF VOTING
POWER OF CO'S COMMON STOCK
    * REATA PHARMACEUTICALS INC - BIOGEN EXPECTS THIS
ACQUISITION TO
BE ACCOUNTED FOR AS A BUSINESS COMBINATION
    * REATA PHARMACEUTICALS: DEAL EXPECTED TO BE SLIGHTLY
DILUTIVE TO
BIOGEN'S NON-GAAP DILUTED EARNINGS PER SHARE (EPS) IN 2023,
ROUGHLY NEUTRAL IN 2024

Source text for Eikon:  ID:nGNX6m052c 
Further company coverage:  BIIB.O 

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