Alexza Pharma confirms takeover talks with Grupo Ferrer

US drugmaker Alexza Pharmaceuticals (Nasdaq: ALXA) confirmed that it had entered into a non-binding letter of intent with privately-owned Spanish firm Grupo Ferrer Internacional, with respect to Ferrer's proposed acquisition of all outstanding common shares of the company. No financial terms were revealed.

The Letter of Intent, which was described in Ferrer's recent Schedule 13D filing, does not constitute a binding agreement to consummate such acquisition and it entitles both Alexza and Ferrer to terminate discussions at any time in their sole discretion. Additionally Alexza can, at its discretion, enter into discussions with third parties and continue to explore strategic options. There can be no assurance that such potential Transaction will be agreed to or consummated.

The entering into the Letter of Intent follows exploration of strategic options that the company announced previously. In September 2015, the company announced that it had retained Guggenheim Securities, to assist in exploring strategic options to enhance stockholder value, including a possible sale or disposition of one or more corporate assets, a strategic business combination, partnership or other transactions.