M&A · Healthcare · Biological Products, (No Diagnostic Substances)
Alexion Pharmaceuticals, Inc. to acquire LogicBio Therapeutics, Inc.
Announced Oct 3, 2022 · Closed Nov 16, 2022
Deal value$68MEV $36M
Premium38.0%To unaffected price
EV / Adj. EBITDA—3.5x EV / Revenue
ConsiderationAll cash$2.07 per share
Transaction
- Acquirer
- Alexion Pharmaceuticals, Inc.
- Target
- LogicBio Therapeutics, Inc.
- Buyer type
- Strategic
- Offer price per share
- $2.07
- Enterprise value
- $36M
- Status
- Closed Nov 16, 2022
Deal protections
- Break fee (target pays)
- $2.1M · 3.1%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Centerview
Sector context · Healthcare
- Comparable deals
- 62 in the prior 24 months
- Premium
- 38.0% vs. 50.0% sector median
- EV / Adj. EBITDA
- Sector median 17.4x
- Break fee
- 3.1% vs. 3.4% sector median
Timeline
- AnnouncedOct 3, 2022
- Tender offerOct 18, 2022
- ClosedNov 16, 2022
Valuation · fairness opinions
Discounted cash flow$0.97$1.71
Analyst price targets$1.00$2.50
Offer $2.07
Implied value per LogicBio Therapeutics, Inc. share by analysis, from Centerview · DCF discount rate 15%–17%.