Dicerna Pharmaceuticals (DRNA) to be acquired by Novo Nordisk (NVO) for $38.25/share

•  Agreed to be acquired by Novo Nordisk (NVO), a research collaboration partner of co in the space of RNAi therapies, for $38.25/share in cash, representing a total equity value of $3.3 bln and a premium of approx. +80% to yesterday's closing price. The transaction is expected to close in Q4. Leaps to three-month highs.

 

Dicerna Pharmaceuticals: Novo Nordisk (NVO) will acquire Dicerna for $38.25 per share in cash, which represents a total equity value of $3.3 billion

• Under the terms of the agreement, Novo Nordisk, through a subsidiary, will initiate a tender offer to acquire all outstanding shares of Dicerna common stock at a price of $38.25 per share in cash. The closing of the tender offer will be subject to certain conditions, including the tender of shares representing at least a majority of the total number of Dicerna's outstanding shares, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. Upon the successful completion of the tender offer, Novo Nordisk's acquisition subsidiary will be merged into Dicerna, and any remaining shares of common stock of Dicerna will be cancelled and converted into the right to receive the same $38.25 per share price payable in the tender offer. The transaction is expected to close in the fourth quarter of 2021.
• The transaction was unanimously approved by the Dicerna Board of Directors and the Board of Directors of Novo Nordisk.