Eidos Therapeutics Special Committee Rejects Proposal from BridgeBio Pharma to Acquire Shares
Advises Stockholders Take No Action at this Time.
Eidos Therapeutics, Inc. (Nasdaq:EIDX) (“Eidos”) announced today that the Special Committee of its Board of Directors (the “Special Committee”) unanimously rejected the non-binding proposal dated August 8, 2019 (the
“Proposal”) from BridgeBio Pharma, Inc., the parent entity of the Company’s majority stockholder (“BridgeBio”), to purchase all of the outstanding common stock of the Company not already owned by BridgeBio for a fixed exchange ratio of 1.30 shares of BridgeBio common stock for each share of Eidos common stock.
After a comprehensive review of the Proposal conducted in consultation with its independent financial and legal advisors, including a review of the business and prospects of each of Eidos and BridgeBio, the Special Committee
concluded that the Proposal is inadequate and not in the best interests of Eidos’ minority stockholders.
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A copy of the letter sent by the Special Committee to BridgeBio on September 12, 2019 in response to the Proposal is included as Annex A to this news release.
Eidos stockholders are advised to take no action at this time.
Date: September 16, 2019
Source: Bloomberg
