M&A · Healthcare · Pharmaceutical Preparations
Eli Lilly & Co to acquire POINT Biopharma Global Inc.
Announced Oct 3, 2023 · Closed Dec 27, 2023
Deal value$1.32BEV $1.26B
Premium87.0%To unaffected price
EV / Adj. EBITDA10.6x5.3x EV / Revenue
ConsiderationAll cash$12.50 per share
Transaction
- Acquirer
- Eli Lilly & Co (LLY)
- Target
- POINT Biopharma Global Inc.
- Buyer type
- Strategic
- Offer price per share
- $12.50
- Enterprise value
- $1.26B
- Status
- Closed Dec 27, 2023
Deal protections
- Break fee (target pays)
- $54.0M · 4.1%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Goldman Sachs
- To the target
- Centerview
- Centerview fee
- $34.4M
Sector context · Healthcare
- Comparable deals
- 91 in the prior 24 months
- Premium
- 87.0% vs. 50.0% sector median
- EV / Adj. EBITDA
- 10.6x vs. 17.3x sector median
- Break fee
- 4.1% vs. 3.5% sector median
Timeline
- AnnouncedOct 3, 2023
- Tender offerOct 13, 2023
- ClosedDec 27, 2023
Valuation · fairness opinions
Discounted cash flow$11.15$13.80
Analyst price targets$11.00$27.00
Premiums paid$10.35$13.70
Offer $12.50
Implied value per POINT Biopharma Global Inc. share by analysis, from Centerview · DCF discount rate 12.5%–14.5%.