Brief: Sumitovant Biopharma, Sumitomo Pharma, And Myovant Sciences Enter Into Definitive Agreement

Sumitomo Pharma

24/10/2022 04:33

Oct 23 (Reuters) - Myovant Sciences Ltd  MYOV.N :
    * SUMITOVANT BIOPHARMA, SUMITOMO PHARMA, AND MYOVANT
SCIENCES
ENTER INTO DEFINITIVE AGREEMENT
    * SUMITOVANT BIOPHARMA TO ACQUIRE ALL OUTSTANDING SHARES OF
MYOVANT FOR $27 PER SHARE IN CASH
    * MYOVANT SCIENCES - DEAL FOR TOTAL TRANSACTION VALUE OF
$1.7
BILLION AND TOTAL COMPANY VALUE OF $2.9 BILLION
    * MYOVANT SCIENCES - UPON COMPLETION , MYOVANT WILL BECOME A
WHOLLY OWNED SUBSIDIARY OF SUMITOVANT AND MYOVANT'S SHARES WILL
NO LONGER BE LISTED ON NYSE
    * TRANSACTION WILL BE FINANCED THROUGH A COMBINATION OF CASH
ON
HAND AND EXTERNAL DEBT FINANCING
    * MYOVANT SCIENCES - FINANCING COMMITMENT BEEN RECEIVED FROM
SUMITOMO MITSUI BANKING CORP; TRANSACTION IS NOT SUBJECT TO A
FINANCING CONDITION

Source text for Eikon:  ID:nPn7Fkz2ca 
Further company coverage:  MYOV.N 
 ((Reuters.Briefs@thomsonreuters.com;))