MergerMay 4, 2026, 08:27 AM
Assertio Merger Offer Increased to $21.80/Share, Totaling $153.2M
AI Summary
Assertio Holdings, Inc. entered into an Amended and Restated Agreement and Plan of Merger with Garda Therapeutics, Inc., increasing the offer price to acquire all outstanding shares. The new all-cash offer is $21.80 per share, up from $18.00 per share plus a contingent value right, representing a 21.1% premium to the prior offer and a 63.1% premium to the unaffected stock price. Assertio's Board unanimously approved the $153.2 million transaction, which is expected to close in the second quarter of 2026. Consequently, Assertio will not host a Q1 2026 earnings call and is withdrawing its 2026 guidance.
Key Highlights
- Assertio Holdings and Garda Therapeutics amended their merger agreement.
- Offer price increased to $21.80 per share in cash, from $18.00 plus a CVR.
- New offer represents a 21.1% premium to the prior offer.
- New offer represents a 63.1% premium to the unaffected stock price.
- Total transaction value is $153.2 million.
- Assertio's Board of Directors unanimously approved the revised offer.
- Transaction expected to close in the second quarter of 2026.
- Assertio withdraws 2026 guidance and cancels Q1 earnings call.