M&A · Healthcare · Pharmaceutical Preparations
Zydus Lifesciences Ltd. to acquire Assertio Holdings, Inc.
Announced May 13, 2026 · Closed Jun 16, 2026
Deal value$166MEV $157M
Premium75.8%To unaffected price
EV / Adj. EBITDA—1.5x EV / Revenue
ConsiderationAll cash$23.50 per share
Transaction
- Acquirer
- Zydus Lifesciences Ltd.
- Target
- Assertio Holdings, Inc. (ASRT)
- Buyer type
- Strategic
- Offer price per share
- $23.50
- Enterprise value
- $157M
- Status
- Closed Jun 16, 2026
Deal protections
- Break fee (target pays)
- $6.3M · 3.8%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Moelis
- Moelis fee
- $1.5M
Sector context · Healthcare
- Comparable deals
- 102 in the prior 24 months
- Premium
- 75.8% vs. 50.0% sector median
- EV / Adj. EBITDA
- Sector median 12.1x
- Break fee
- 3.8% vs. 3.3% sector median
Timeline
- AnnouncedMay 13, 2026
- Tender offerMay 18, 2026
- ClosedJun 16, 2026
Valuation · fairness opinions
Discounted cash flow$16.06$20.55
Discounted cash flow$16.83$19.81
Offer $23.50
Implied value per Assertio Holdings, Inc. share by analysis, from Moelis.