NeuroDerm to be acquired by Japanese firm in $1.1 billion deal

25 July 2017

Israel-based NeuroDerm (Nasdaq: NDRM) says it has signed a definitive agreement under which Japan’s Mitsubishi Tanabe Pharma (TYO: 4508) will acquire US-listed central nervous system disorders specialist NeuroDerm for $39 per share in cash.

The transaction has received unanimous approval by NeuroDerm’s Board of Directors and implies an equity value of around $1.1 billion. The offer of $39 per share in cash represents a premium of 79% over the unaffected price on June 9, 2017 of NeuroDerm’s ordinary shares on the Nasdaq Stock Market and a 17% premium over the closing stock price on July 21, 2017. Assuming typical regulatory and shareholder approval timeframes, NeuroDerm currently anticipates the transaction will close in the fourth quarter of 2017.

One of the biggest-ever buys of Israeli firm

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