M&A · Healthcare · Pharmaceutical Preparations
Eli Lilly & Co to acquire Sigilon Therapeutics, Inc.
Announced Jun 29, 2023 · Closed Aug 11, 2023
Deal value$485MEV $468M
Premium—To unaffected price
EV / Adj. EBITDA—32.0x EV / Revenue
ConsiderationAll cash$14.92 per share
Transaction
- Acquirer
- Eli Lilly & Co (LLY)
- Target
- Sigilon Therapeutics, Inc. (SGTX)
- Buyer type
- Strategic
- Offer price per share
- $14.92
- Enterprise value
- $468M
- Status
- Closed Aug 11, 2023
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Lazard, Canaccord Genuity
- Lazard fee
- $3.0M
Sector context · Healthcare
- Comparable deals
- 86 in the prior 24 months
- Premium
- Sector median 50.0%
- EV / Adj. EBITDA
- Sector median 17.4x
- Break fee
- Sector median 3.5%
Timeline
- AnnouncedJun 29, 2023
- Tender offerJul 13, 2023
- ClosedAug 11, 2023
Valuation · fairness opinions
Discounted cash flow$14.65$15.25
Discounted cash flow$12.65$16.65
Offer $14.92
Implied value per Sigilon Therapeutics, Inc. share by analysis, from Lazard · DCF discount rate 13%–15%.