M&A · Healthcare · Pharmaceutical Preparations
The Column Group, LP to acquire NGM Biopharmaceuticals Inc
Announced Feb 26, 2024 · Closed Apr 5, 2024
Deal value$135MEV $84M
Premium80.0%To unaffected price
EV / Adj. EBITDA—3.7x EV / Revenue
ConsiderationAll cash
Transaction
- Acquirer
- The Column Group, LP
- Target
- NGM Biopharmaceuticals Inc
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- $84M
- Status
- Closed Apr 5, 2024
Deal protections
- Break fee (target pays)
- $2.0M · 1.5%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Guggenheim
- Guggenheim fee
- $4.3M
Sector context · Healthcare
- Comparable deals
- 105 in the prior 24 months
- Premium
- 80.0% vs. 52.0% sector median
- EV / Adj. EBITDA
- Sector median 17.3x
- Break fee
- 1.5% vs. 3.5% sector median
Timeline
- AnnouncedFeb 26, 2024
- Tender offerMar 8, 2024
- ClosedApr 5, 2024
Valuation · fairness opinions
Discounted cash flow$1.04$1.96
Discounted cash flow$1.20$1.41
Discounted cash flow$1.26$1.61
Implied value per NGM Biopharmaceuticals Inc share by analysis, from Guggenheim.