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Article: Metabasis Announces Ligand to Acquire Metabasis for Cash and Contingent Value Rights.
- Article from:
- Biotech Week
- Article date:
- November 11, 2009
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Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) and Metabasis Therapeutics, Inc. (NASDAQ: MBRX) announced they have entered into a definitive merger agreement under which Ligand will acquire all of the outstanding shares of Metabasis (see also Metabasis Therapeutics, Inc.).
Under the transaction, Metabasis stockholders will receive a cash payment at the closing of the transaction of approximately $3.2 million, less Metabasis' estimated net liabilities at closing and an amount to be deposited in the stockholders' representative's fund (Metabasis currently estimates the closing payment to be approximately $1.8 million in cash). In addition, Metabasis stockholders ...