BridgeBio Pharma bid to acquire full control of Eidos Therapeutics
Shares of Eidos Therapeutics (Nasdaq: EIDX) closed up 6.1% at $37.32 yesterday, after it was revealed that, under a non-binding proposal, BridgeBio Pharma (Nasdaq: BBIO) will purchase all of the outstanding common stock of the company not already owned.
BridgeBio currently owns, through its wholly-owned subsidiary, BridgeBio Pharma LLC, around 66.6% of the outstanding shares of the company’s common stock and would acquire the remaining shares for a fixed exchange ratio of 1.30 shares of BridgeBio common stock for each share of Eidos. BridgeBio’s shares closed down 2.6% at $26.19 on Monday.
According to the terms of the proposal, which is subject to certain conditions, BridgeBio would acquire all of the shares of common stock of the company not already owned by BridgeBio for a fixed exchange ratio of 1.30 shares of BridgeBio common stock for each share of Eidos.
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