M&A · Healthcare · Pharmaceutical Preparations
Amgen Inc to acquire ChemoCentryx, Inc.
Announced Aug 4, 2022 · Closed Oct 20, 2022
Deal value$3.70BEV $3.70B
Premium116.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$52.00 per share
Transaction
- Acquirer
- Amgen Inc (AMGN)
- Target
- ChemoCentryx, Inc. (CCXI)
- Buyer type
- Strategic
- Offer price per share
- $52.00
- Enterprise value
- $3.70B
- Status
- Closed Oct 20, 2022
Deal protections
- Break fee (target pays)
- $119M · 3.2%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- PJT Partners
- To the target
- Goldman Sachs
Sector context · Healthcare
- Comparable deals
- 55 in the prior 24 months
- Premium
- 116.0% vs. 47.0% sector median
- EV / Adj. EBITDA
- Sector median 17.4x
- Break fee
- 3.2% vs. 3.4% sector median
Timeline
- AnnouncedAug 4, 2022
- Proxy filedAug 31, 2022
- Definitive proxySep 14, 2022
- Shareholder voteOct 18, 2022
- ClosedOct 20, 2022
Valuation · fairness opinions
Other analysis$41.01$45.91
Other analysis$51.80$59.60
Premiums paid$34.21$44.68
52-week trading range$40.10$53.06
Offer $52.00
Implied value per ChemoCentryx, Inc. share by analysis, from Goldman Sachs · DCF discount rate 11.5%–13.5%.