Biogen expects to issue term debt for $7.3 billion acquisition of Reata

Chicago, July 28 – Biogen Inc. announced the entry of an agreement to acquire Reata Pharmaceuticals for $172.50 per share in cash, reflecting an enterprise value of $7.3 billion, according to a press release.

Biogen will fund the acquisition with cash on hand, supplemented by the issuance of term debt.

Subject to regulatory approvals and a shareholder vote by Reata stockholders, the acquisition is expected to close in the fourth quarter of 2023.

Biogen is a biotechnology company based in Cambridge, Mass. Reata is a biopharma company with approval for a treatment of Friedreich’s ataxia and has a treatment in the pipeline that addresses diabetic neuropathic pain.

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