M&A · Healthcare · Pharmaceutical Preparations
AbbVie Inc. to acquire Landos Biopharma, Inc.
Announced Mar 25, 2024 · Closed May 23, 2024
Deal value$138MEV $138M
Premium161.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$20.42 per share
Transaction
- Acquirer
- AbbVie Inc. (ABBV)
- Target
- Landos Biopharma, Inc.
- Buyer type
- Strategic
- Offer price per share
- $20.42
- Enterprise value
- $138M
- Status
- Closed May 23, 2024
Deal protections
- Break fee (target pays)
- $7.0M · 5.1%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Jefferies
Sector context · Healthcare
- Comparable deals
- 108 in the prior 24 months
- Premium
- 161.0% vs. 52.5% sector median
- EV / Adj. EBITDA
- Sector median 17.1x
- Break fee
- 5.1% vs. 3.5% sector median
Timeline
- AnnouncedMar 25, 2024
- Proxy filedApr 15, 2024
- Definitive proxyApr 25, 2024
- Shareholder voteMay 23, 2024
- ClosedMay 23, 2024
Valuation · fairness opinions
Discounted cash flow$14.51$24.90
Offer $20.42
Implied value per Landos Biopharma, Inc. share by analysis, from Jefferies.