Transcept Pharma (TSPT) Rejects $4/Share Offer

September 25, 2013 4:08 PM EDT
Transcept Pharmaceuticals, Inc. (Nasdaq: TSPT) announced that it has rejected an unsolicited proposal from Retrophin, Inc. to acquire all of the outstanding shares of Transcept for $4.00 per share in cash. The Board of Directors of Transcept, in consultation with its financial and legal advisors, evaluated Retrophin and its proposal and concluded that pursuing this unsolicited overture is not in the best interests of Transcept or its stockholders.

Leerink Swann LLC is acting as financial and strategic advisor to Transcept. Latham & Watkins LLP is acting as the Transcept legal advisor.

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