Gardant to be acquired by Switch Pharma

By Lisa Kerner

Charlotte, N.C., Aug. 25 - Gardant Pharmaceuticals, Inc. said it agreed to be acquired by drug-development company Switch Pharma Ltd. in a deal expected to close on Sept. 30, according to a news release.

Gardant shareholders will receive one share of Switch Pharma for every Gardant share owned.

Under the companies' agreement, Switch Pharma shares issued in the transaction must be trading for at least $1.38 per share when the company's shares begin trading publicly in London.

Gardant's previously announced spin-offs will proceed as planned, the company said.

Gardant is a pharmaceutical company based in New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.