Reported Wednesday, Vanda Pharmaceuticals Rejects Unsolicited Takeover Bids, Citing Undervaluation
Reported Wednesday, Vanda Pharmaceuticals Rejects Unsolicited Takeover Bids, Citing Undervaluation
Vanda Pharmaceuticals Inc. (Vanda) (NASDAQ:VNDA) today announced that the Company's Board of Directors (the "Board"), following careful review and consultation with its independent financial and legal advisors, has determined that the unsolicited proposal from Cycle Group Holdings Ltd ("Cycle Group") to acquire Vanda for $8.00 per share in cash and the revised unsolicited proposal from Future Pak, LLC ("FP") to acquire Vanda for $8.50-$9.00 per share in cash plus certain Contingent Value Rights ("CVRs") both substantially undervalue Vanda and are not in the best interests of the Company and its shareholders. Accordingly, the Board has rejected the proposals
万达制药公司（Vanda）（纳斯达克证券交易所股票代码：VNDA）今天宣布，公司董事会经过仔细审查并与独立的财务和法律顾问进行磋商后，确定来自Cycle Group Holdings Ltd（“Cycle Group”）以每股8.00美元现金收购Vanda的非请求性提议以及Future Pak，LLC（“FP”）以每股8.50-9.00美元现金加上一定条件的Contingent Value Rights（“CVR”）收购Vanda的修订非请求性提议均严重低估了Vanda并不符合公司及其股东的最佳利益。因此，董事会已经拒绝了这些建议。