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
萬達製藥公司（Vanda）（納斯達克證券交易所股票代碼：VNDA）今天宣佈，公司董事會經過仔細審查並與獨立的財務和法律顧問進行磋商後，確定來自Cycle Group Holdings Ltd（“Cycle Group”）以每股8.00美元現金收購Vanda的非請求性提議以及Future Pak，LLC（“FP”）以每股8.50-9.00美元現金加上一定條件的Contingent Value Rights（“CVR”）收購Vanda的修訂非請求性提議均嚴重低估了Vanda並不符合公司及其股東的最佳利益。因此，董事會已經拒絕了這些建議。