Healthcare Jun 24, 2022 11:15 AM (GMT+8) · EqualOcean
On the evening of June 23, China biopharmaceutical announced that it had reached a merger agreement and plan to acquire all the outstanding common shares of F-star therapeutics, Inc., a NASDAQ listed company, at a total consideration of US $161million, or US $7.12 per share. The wholly-owned subsidiary of China biopharmaceutical will start the tender offer within the next 10 business days, but the delivery of the tender offer will be subject to a number of conditions, including the acceptance of the acquisition by shareholders of at least half of the outstanding ordinary shares of F-star, the acquisition of the required regulatory approval (including the expiration of the waiting period of the Hart Scott rodino anti trust Improvement Act) and other customary delivery conditions. After the news was disclosed, the share price of F-star rose sharply. As of the closing of U.S. stocks on June 23, 2022, the share price of F-star rose 59.8% to $6.36 per share.