Summary by Moomoo AI
Eli Lilly and Company, through its wholly-owned subsidiary Rainier Acquisition Corporation, has launched a tender offer to acquire all outstanding shares of Morphic Holding, Inc. at a price of $57.00 per share in cash. The offer, which commenced on July 19, 2024, is set to expire at 11:59 P.M., Eastern Time, on August 15, 2024, unless extended or terminated earlier. A key condition for the offer, the Regulatory Condition, was met with the expiration of the HSR Act waiting period on July 31, 2024. The completion of the tender offer is subject to other conditions detailed in the Offer to Purchase. The offer represents a strategic move by Eli Lilly to expand its holdings, and the acquisition process is being overseen by executives Anat Hakim and Michael C. Thompson, with legal counsel provided by Kirkland & Ellis LLP.
