Euthymics and DOV Pharma to proceed with merger plan, Shire buys US campus for $165 million
Confirming a previous letter of intent, privately-held Euthymics Bioscience and DOV Pharmaceutical, have signed a merger agreement in connection with the pending merger and acquisition of DOV by Euthymics. DOV also announced that a special meeting of its stockholders to consider a proposal to approve the merger agreement between has been scheduled for July 19.
The acquisition price for DOV is for up to $2.0 million in cash, payable in two installments, representing a total of around $0.015 per share of DOV common stock. If the transaction is consummated, it is anticipated that DOV will be renamed Euthymics Bioscience.
Completion of the acquisition is subject to the satisfaction of several conditions, including, without limitation, compliance with applicable laws, approval by DOV shareholders, and other conditions.
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