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Biotech / Medical : Munch-a-Biotech Today
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From: Ian@SI8/12/2010 5:24:21 PM
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4:15PM Trubion Pharma to be acquired by Emergent BioSolutions (EBS) for total consideration of up to $135.5 mln; upfront consideration of $96.8 mln of value, or $4.55/share (TRBN) 18.50 -0.48 : Co signs definitive agreement to be acquired by Emergent BioSolutions (EBS) for upfront consideration of $96.8 mln of value, or $4.55/share, and up to $38.7 mln of success-based milestones, resulting in total considersation of up to $135.5 mln. Under the terms of the agreement, each share of Trubion Pharmaceuticals common stock will be converted into the right to receive an upfront payment of $1.365/share in cash and 0.1641 shares of Emergent BioSolutions common stock. Upon closing, the transaction is expected to provide ~$20 mln in cash, net of customary closing costs, and $70 mln of net operating losses that are expected to be used over the next ten years.
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