M&A · Healthcare · Biological Products, (No Diagnostic Substances)
Viatris Inc to acquire Oyster Point Pharma, Inc.
Announced Nov 8, 2022 · Closed Jan 3, 2023
Deal value$295MEV $282M
Premium32.0%To unaffected price
EV / Adj. EBITDA—8.8x EV / Revenue
ConsiderationAll cash$11.00 per share
Transaction
- Acquirer
- Viatris Inc (VTRS)
- Target
- Oyster Point Pharma, Inc.
- Buyer type
- Strategic
- Offer price per share
- $11.00
- Enterprise value
- $282M
- Status
- Closed Jan 3, 2023
Deal protections
- Break fee (target pays)
- $11.8M · 4.0%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Citigroup
- To the target
- Centerview
Sector context · Healthcare
- Comparable deals
- 71 in the prior 24 months
- Premium
- 32.0% vs. 47.0% sector median
- EV / Adj. EBITDA
- Sector median 18.4x
- Break fee
- 4.0% vs. 3.4% sector median
Timeline
- AnnouncedNov 8, 2022
- Tender offerDec 1, 2022
- ClosedJan 3, 2023