M&A · Healthcare · Pharmaceutical Preparations
Immedica Pharma AB to acquire Marinus Pharmaceuticals, Inc.
Announced Dec 30, 2024 · Closed Feb 11, 2025
Deal value$151MEV $151M
Premium48.0%To unaffected price
EV / Adj. EBITDA—4.8x EV / Revenue
ConsiderationAll cash$0.55 per share
Transaction
- Acquirer
- Immedica Pharma AB
- Target
- Marinus Pharmaceuticals, Inc. (MRNS)
- Buyer type
- Strategic
- Offer price per share
- $0.55
- Enterprise value
- $151M
- Status
- Closed Feb 11, 2025
Deal protections
- Break fee (target pays)
- $1.3M · 0.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- MTS Health Partners
- To the target
- Barclays
Sector context · Healthcare
- Comparable deals
- 93 in the prior 24 months
- Premium
- 48.0% vs. 67.0% sector median
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- 0.9% vs. 3.5% sector median
Timeline
- AnnouncedDec 30, 2024
- Tender offerJan 8, 2025
- ClosedFeb 11, 2025
Valuation · fairness opinions
Discounted cash flow$0.29$0.32
Trading comparables$0.10$1.35
Analyst price targets$0.30$3.00
Premiums paid$0.28$0.40
Offer $0.55
Implied value per Marinus Pharmaceuticals, Inc. share by analysis, from Barclays.