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Teoxane SA Announces Superior Proposal to Acquire Revance Therapeutics for $3.60 per Share in Cash
Monday, 6th January at 9:00 am
Compelling Cash Proposal Provides 16% Premium Over Revance's Amended and Restated Agreement with Crown Laboratories
GENEVA, Jan. 6, 2025 /PRNewswire/ -- Teoxane SA today announced that on January 6, 2025, it submitted a proposal to the Board of Directors of Revance Therapeutics, Inc. (NASDAQ: RVNC) to acquire Revance for $3.60 per share in cash. Teoxane beneficially owns 6.2% of the outstanding shares of common stock of Revance.
Teoxane's proposal provides a 16% premium over the $3.10 per share price in Revance's amended and restated merger agreement with Crown Laboratories, Inc. ("Crown"), as announced on December 9, 2024. Teoxane believes its proposal is a superior alternative to the amended and restated transaction with Crown.
Teoxane has organized the resources to work as expeditiously as possible toward a transaction with Revance and is prepared to transact promptly. Teoxane has performed due diligence with publicly available information and would have only limited and specific confirmatory due diligence requirements. Teoxane already possesses deep knowledge of Revance's operations and capabilities via its existing commercial relationship: Teoxane's products represent a material portion of Revance's current and prospective revenues under the companies' existing Distribution Agreement.
Monday, 6th January at 9:00 am
Compelling Cash Proposal Provides 16% Premium Over Revance's Amended and Restated Agreement with Crown Laboratories
GENEVA, Jan. 6, 2025 /PRNewswire/ -- Teoxane SA today announced that on January 6, 2025, it submitted a proposal to the Board of Directors of Revance Therapeutics, Inc. (NASDAQ: RVNC) to acquire Revance for $3.60 per share in cash. Teoxane beneficially owns 6.2% of the outstanding shares of common stock of Revance.
Teoxane's proposal provides a 16% premium over the $3.10 per share price in Revance's amended and restated merger agreement with Crown Laboratories, Inc. ("Crown"), as announced on December 9, 2024. Teoxane believes its proposal is a superior alternative to the amended and restated transaction with Crown.
Teoxane has organized the resources to work as expeditiously as possible toward a transaction with Revance and is prepared to transact promptly. Teoxane has performed due diligence with publicly available information and would have only limited and specific confirmatory due diligence requirements. Teoxane already possesses deep knowledge of Revance's operations and capabilities via its existing commercial relationship: Teoxane's products represent a material portion of Revance's current and prospective revenues under the companies' existing Distribution Agreement.
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