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NEWS
Vanda Pharmaceuticals Confirms Receipt of Economically Identical Unsolicited, Non-Binding Proposal from Cycle Group Holdings Ltd.
Vanda Pharmaceuticals confirmed receipt of a second unsolicited, non-binding proposal from Cycle Group Holdings to acquire the company for $8.00 per share in cash. This proposal, received on September 23, 2024, is economically identical to the previously rejected offer from May 24, 2024.
Vanda's Board of Directors unanimously determined that the proposal substantially undervalues the company and is not in the best interests of Vanda and its stockholders.
The Board evaluated all aspects of Vanda's business, including its clinical development pipeline, expanding commercial presence, and significant cash balance. They concluded that the proposal is an opportunistic attempt to purchase shares at a discount to Vanda's intrinsic value. The Board and management remain confident in Vanda's growth profile and long-term value creation potential, which they believe far exceeds the consideration offered by Cycle Group.
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Jaguar8 OP : “UNSOLICITED” non-binding proposal. So the other company is trying to convince VNDA to sell LOL
Lnova Jaguar8 OP : Yup sounds like Vnda isn’t having it
Jaguar8 OP Lnova : It is the second identical offer which they already rejected
Lnova Jaguar8 OP : They may want Cycle to leave them alone
Lnova Jaguar8 OP : Identical?
Jaguar8 OP Lnova : Haha true and find another company to buy
Lnova Jaguar8 OP : Yes maybe Cycle’s deal isn’t good enough
Jaguar8 OP Lnova : I feel like they don’t want the people negotiating haha
Lnova Jaguar8 OP : I thought it was weird of Cycle to do that! To kind of try to get shareholders involved to pressure Vnda ??
Jaguar8 OP Lnova : Yup that is why VNDA is not taking their BS tactics
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