M&A · Healthcare · Pharmaceutical Preparations
BioMarin Pharmaceutical Inc to acquire Amicus Therapeutics, Inc.
Announced Dec 19, 2025 · Closed Apr 27, 2026
Deal value$4.80BEV $5.00B
Premium33.0%To unaffected price
EV / Adj. EBITDA—8.4x EV / Revenue
ConsiderationAll cash$14.50 per share
Transaction
- Acquirer
- BioMarin Pharmaceutical Inc (BMRN)
- Target
- Amicus Therapeutics, Inc. (FOLD)
- Buyer type
- Strategic
- Offer price per share
- $14.50
- Enterprise value
- $5.00B
- Status
- Closed Apr 27, 2026
Deal protections
- Break fee (target pays)
- $175M · 3.6%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- Committed · Morgan Stanley, Citigroup, BofA Securities, JPMorgan
Advisors
- To the acquirer
- Morgan Stanley
- To the target
- Centerview, Goldman Sachs
- Centerview fee
- $52.7M
Sector context · Healthcare
- Comparable deals
- 98 in the prior 24 months
- Premium
- 33.0% vs. 60.5% sector median
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- 3.6% vs. 3.3% sector median
Timeline
- AnnouncedDec 19, 2025
- Proxy filedJan 21, 2026
- Definitive proxyFeb 2, 2026
- Shareholder voteMar 3, 2026
- ClosedApr 27, 2026
Valuation · fairness opinions
Trading comparablesCenterview$7.25$11.95
Precedent transactionsCenterview$9.00$16.25
Discounted cash flowCenterview$11.75$14.35
Analyst price targetsCenterview$11.00$22.00
Precedent transactionsCenterview$14.15$19.60
Discounted cash flowGoldman Sachs$11.77$14.70
Premiums paidGoldman Sachs$14.17$17.17
Offer $14.50
Implied value per Amicus Therapeutics, Inc. share by analysis, from Centerview and Goldman Sachs · DCF discount rate 10.25%–12%.