M&A · Healthcare · Pharmaceutical Preparations
LEO Pharma A/S to acquire Timber Pharmaceuticals, Inc.
Announced Aug 21, 2023 · Closed Nov 29, 2023
Deal value$14MEV $14M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash
Transaction
- Acquirer
- LEO Pharma A/S
- Target
- Timber Pharmaceuticals, Inc.
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- $14M
- Status
- Closed Nov 29, 2023
Deal protections
- Break fee (target pays)
- $0.4M · 3.0%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Not disclosed
Sector context · Healthcare
- Comparable deals
- 90 in the prior 24 months
- Premium
- Sector median 50.0%
- EV / Adj. EBITDA
- Sector median 17.4x
- Break fee
- 3.0% vs. 3.5% sector median
Timeline
- AnnouncedAug 21, 2023
- Proxy filedSep 1, 2023
- Definitive proxySep 12, 2023
- Shareholder voteOct 16, 2023
- ClosedNov 29, 2023