M&A · Healthcare · Pharmaceutical Preparations
AstraZeneca PLC to acquire CinCor Pharma, Inc.
Announced Jan 9, 2023 · Closed Feb 24, 2023
Deal value$1.14BEV $845M
Premium121.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$26.00 per share
Transaction
- Acquirer
- AstraZeneca PLC (AZN)
- Target
- CinCor Pharma, Inc.
- Buyer type
- Strategic
- Offer price per share
- $26.00
- Enterprise value
- $845M
- Status
- Closed Feb 24, 2023
Deal protections
- Break fee (target pays)
- $37.8M · 3.3%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Not disclosed
- To the target
- Centerview
Sector context · Healthcare
- Comparable deals
- 73 in the prior 24 months
- Premium
- 121.0% vs. 50.0% sector median
- EV / Adj. EBITDA
- Sector median 21.5x
- Break fee
- 3.3% vs. 3.4% sector median
Timeline
- AnnouncedJan 9, 2023
- Tender offerJan 23, 2023
- ClosedFeb 24, 2023