M&A · Healthcare · Biological Products, (No Diagnostic Substances)
Sanofi to acquire Inhibrx, Inc.
Announced Jan 23, 2024 · Closed May 30, 2024
Deal value$1.42BEV $1.08B
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$30.00 per share
Transaction
- Acquirer
- Sanofi (SNY)
- Target
- Inhibrx, Inc.
- Buyer type
- Strategic
- Offer price per share
- $30.00
- Enterprise value
- $1.08B
- Status
- Closed May 30, 2024
Deal protections
- Break fee (target pays)
- $54.5M · 3.8%
- Reverse fee (buyer pays)
- $92.1M · 6.5%
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Lazard
- To the target
- Centerview
- Centerview fee
- $47.0M
Sector context · Healthcare
- Comparable deals
- 102 in the prior 24 months
- Premium
- Sector median 53.0%
- EV / Adj. EBITDA
- Sector median 17.1x
- Break fee
- 3.8% vs. 3.5% sector median
Timeline
- AnnouncedJan 23, 2024
- Proxy filedFeb 29, 2024
- Definitive proxyApr 26, 2024
- Shareholder voteMay 24, 2024
- ClosedMay 30, 2024
Valuation · fairness opinions
Discounted cash flow$5.85$7.95
Discounted cash flow$35.45$40.00
Discounted cash flow$27.45$35.70
Analyst price targets$27.00$60.00
Offer $30.00
Implied value per Inhibrx, Inc. share by analysis, from Centerview · DCF discount rate 14%–16%.