BridgeBio reveals terms of plan to take full control of Eidos Therapeutics

Confirming outline plans revealed last year that were paused for lack of agreement, BridgeBio Pharma (Nasdaq: BBIO) and Eidos Therapeutics (Nasdaq: EIDX) have now entered into a definitive agreement under which BridgeBio has agreed to acquire all of the outstanding common stock of Eidos it does not already own, representing around 36.3% of Eidos’ outstanding shares.

Eidos stockholders will have the right to receive in the transaction, at their election, either 1.85 shares of BridgeBio common stock or $73.26 in cash per Eidos share in the transaction, up to an aggregate maximum of $175 million of cash. The agreement was unanimously approved by BridgeBio’s board of directors and was approved by Eidos’ board of directors based upon the unanimous recommendation of a special committee of independent directors of Eidos.

With this transaction, BridgeBio fully and formally welcomes Eidos back into its ecosystem of innovation. Eidos is developing acoramidis, a potential best-in-class TTR stabilizer, for patients with ATTR cardiomyopathy and polyneuropathy.