Ligand to Acquire Pfenex for $516M

Shots: Ligand to acquire all outstanding shares of Pfenex for $12/share in cash or $438 million in equity value with a 57% premium to the closing price of Pfenex’s stock on Aug 10, 2020. In addition, Ligand will pay $2/share or $78M as a CVR, making a total deal value up to $516M The transaction …

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