By Lisa Kerner
Charlotte, N.C., Oct. 2 - Arigene Co., Ltd. announced it will acquire Trimeris, Inc. in a $3.60-per-share cash tender offer in a transaction valued at approximately $81 million, a joint company news release said.
According to Arigene, the per-share offer price is a premium of approximately 55% over Trimeris' average stock price over the three-month period ending on Thursday.
Trimeris stockholders representing about 36% of the company's shares outstanding agreed to support the deal.
Both companies' boards of directors have approved the merger, which is expected to close in the fourth quarter of 2009.
Trimeris, a Durham, N.C., biopharmaceutical company, was advised by Wilmer Cutler Pickering Hale and Dorr LLP.
HCube Advisors, Inc. and K&L Gates, LLP advised Arigene.
Arigene is a medical equipment manufacturer based in Seoul, Korea.
| Acquirer: | Arigene Co., Ltd.
|
| Target: | Trimeris, Inc.
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| Announcement date: | Oct. 2
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| Price per share: | $3.60
|
| Expected closing: | Fourth quarter of 2009
|
| Stock price for target: | Nasdaq: TRMS: $2.57 on Oct. 1
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