Anti-wrinkle injection maker Revance to go private in $924 million deal (updated)

Revance Therapeutics

12/08/2024 13:22

(Adds details on the deal in paragraph 2, background in
paragraph 3)
       Aug 12 (Reuters) - Anti-wrinkle injection maker Revance
Therapeutics  RVNC.O  will be acquired by private skincare
company Crown Laboratories in a deal valued at $924 million,
including debt, the two companies said on Monday.
    Crown has offered $6.66 per Revance share held, a nearly 89%
premium to the stock's last close. The transaction, which will
take Revance private, is expected to close by year end, the
companies said.
    Revance makes Daxxify, a rival to AbbVie's  ABBV.N  popular
anti-wrinkle injection Botox, while Crown makes various skincare
and aesthetics products like SkinPen for microneedling and
anti-ageing cream StriVectin.
    

    

 (Reporting by Leroy Leo in Bengaluru; Editing by Sriraj
Kalluvila and Devika Syamnath)
 ((Leroy.Dsouza@thomsonreuters.com ; https://twitter.com/LeroyLeo7;))