12:25 PM EST - Knight Therapeutics Inc. : Has entered into a definitive agreement under which Knight will acquire a 51.21% interest in Biotoscana Investments S.A. from a controlling shareholder group that includes Advent International and Essex Woodlands, among others, for BRL 10.96 per share. This implies a 22.2% premium to GBT’s 30-day volume weighted average share price as of October 18. Knight will pay approximately 596 million Brazilian Real (BRL) or $189 million in cash consideration for the 51.21% controlling interest in GBT. Following completion of this transaction, Knight will launch a mandatory tender offer to acquire the remaining 48.79% interest in GBT from public shareholders on similar terms, for expected cash consideration of approximately BRL 568 million or $180 million, assuming all public shareholders tender their shares. Knight Therapeutics Inc.
shares T.GUD are trading up $0.85 at $8.36.
