M&A · Healthcare · Pharmaceutical Preparations
Pacira BioSciences, Inc. to acquire Flexion Therapeutics Inc
Announced Oct 11, 2021 · Closed Nov 19, 2021
Deal value$427MEV $369M
Premium47.0%To unaffected price
EV / Adj. EBITDA—3.6x EV / Revenue
ConsiderationAll cash$8.50 per share
Transaction
- Acquirer
- Pacira BioSciences, Inc. (PCRX)
- Target
- Flexion Therapeutics Inc
- Buyer type
- Strategic
- Offer price per share
- $8.50
- Enterprise value
- $369M
- Status
- Closed Nov 19, 2021
Deal protections
- Break fee (target pays)
- $18.0M · 4.2%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- JPMorgan
- To the target
- Lazard, Goldman Sachs
Sector context · Healthcare
- Comparable deals
- 29 in the prior 24 months
- Premium
- 47.0% vs. 44.0% sector median
- EV / Adj. EBITDA
- Sector median 20.4x
- Break fee
- 4.2% vs. 3.3% sector median
Timeline
- AnnouncedOct 11, 2021
- Tender offerOct 22, 2021
- ClosedNov 19, 2021