Swedish Orphan Biovitrum AB (publ) (Sobi™) (STO: SOBI) and Dova Pharmaceuticals, Inc. (Dova) (NASDAQ: DOVA) announced today the completion of the acquisition of Dova by Sobi.
Following the completion of Sobi’s successful tender offer to purchase outstanding shares of Dova for USD 27.50 per share, net to the seller thereof in cash, without interest and subject to any applicable withholding taxes, plus one non-transferable Contingent Value Right (CVR) which entitles Dova shareholders to an additional USD 1.50 per share upon approval of Doptelet® for use in Chemotherapy-Induced Thrombocytopenia by the US Food and Drug Administration, Sobi acquired all remaining shares of Dova through a merger pursuant to Section 251(h) of the General Corporation Law of the State of Delaware. As a result of the transaction, Dova has become an indirect wholly owned subsidiary of Sobi.
At the effective time of the merger, and subject to any perfected appraisal rights, all of the remaining shares of Dova common stock not purchased in the tender offer were converted into the right to receive the same USD 27.50 per share, net in cash, without interest and subject to any applicable withholding taxes, plus one non-transferrable CVR that was paid in connection with the tender offer. The transaction is valued at up to USD 915 million (approximately SEK 9.0 billion) on a fully diluted basis.
Source: Prnews Wire
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