is a commercial-stage biopharmaceutical company. Learn more at connect with us on LinkedIn.īioSpecifics Technologies Corp. Endo has global headquarters in Dublin, Ireland and U.S. Together, we boldly transform insights into treatments benefiting those who need them, when they need them. Our decades of proven success come from a global team of passionate employees collaborating to bring the best treatments forward. The transaction has been unanimously approved by the boards of directors of both companies.Įndo's financial advisor is PJT Partners LP and legal counsel is Skadden, Arps, Slate, Meagher & Flom LLP.Įndo International plc (NASDAQ: ENDP) is a specialty pharmaceutical company committed to helping everyone we serve live their best life through the delivery of quality, life-enhancing therapies. The transaction is expected to close in late 2020 and Endo expects to fund the transaction with cash on hand. Upon the successful completion of the tender offer, Endo's acquisition subsidiary will be merged into BioSpecifics, and any remaining shares of BioSpecifics will be canceled and converted into the right to receive the same consideration payable pursuant to the tender offer. Wegman Marital Trust has entered into a Support Agreement committing it to tender its shares into the tender offer. The closing of the tender offer will be subject to certain conditions, including that not less than a majority of shares of BioSpecifics common stock are tendered, the expiration of the waiting period under antitrust laws and other customary conditions. Under the terms of the merger agreement, Endo, through a wholly owned subsidiary, will commence an all-cash tender offer to acquire 100 percent of the outstanding common stock of BioSpecifics for $88.50 per share.
"This transaction will also immediately enhance Endo's adjusted EBITDA and create significant value for shareholders of both organizations." "Acquiring BioSpecifics is consistent with our strategic priority to expand and enhance our portfolio through additional investment in the significant long-term growth potential of both XIAFLEX and QWO - two of our most durable and differentiated products," said Blaise Coleman, President and Chief Executive Officer of Endo.
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