Repros Therapeutics sold for about $20 million

Allergan to acquire Repros Therapeutics for 67c per share

Repros sold for $20M.
Repros sold for $20M.

Repros Therapeutics (RPRX) announced that it has entered into a definitive agreement under which Allergan (AGN), through a subsidiary, will acquire Repros for a cash payment of 67c per share.

The company’s Board of Directors has unanimously approved the transaction.

Under the terms of the merger agreement, a subsidiary of Allergan will commence a cash tender offer to purchase all of the outstanding shares of Repros common stock for 67c per share. T

he closing of the tender offer is subject to customary closing conditions, including the tender of a majority of the outstanding shares of Repros common stock.

The merger agreement contemplates that Allergan, through its subsidiary, will acquire any shares of Repros that are not tendered into the offer through a second-step merger, which will be completed as soon as practicable following the closing of the tender offer.

Pending approvals, Repros anticipates the transaction will close during the first quarter of 2018.

RPRX closed at $0.47.


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