Trubion Pharmaceuticals Announces Agreement to be Acquired by Emergent BioSolutions

by Zagros on August 12, 2020

PR Newswire    ”Press Releases US - English ”
SEATTLE, Aug. 12 /PRNewswire-FirstCall/ — Trubion Pharmaceuticals, Inc. (Nasdaq: TRBN) today announced the signing of a definitive merger agreement with Emergent BioSolutions Inc. (NYSE: EBS), in which Emergent has agreed to acquire Trubion. Under the terms of the agreement, each share of Trubion common stock will be converted into the right to receive an upfront payment of $1.365 per share in cash and 0.1641 shares of Emergent BioSolutions common stock. The upfront payment represents a value of $4.55 per share, or approximately $96.8 million, based on Trubion’s total common shares outstanding, the net value of dilutive stock options, and the trading average of Emergent BioSolutions common stock for the five days prior to the signing of the definitive agreement. Trubion Pharmaceuticals stockholders will also receive one Contingent Value Right (CVR) per share, which will entitle the holder to receive cash payments based upon achievement of the following predefined milestones:

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