BMO Capital Downgrades Ambit Biosciences (AMBI) to Market Perform

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Go back to BMO Capital Downgrades Ambit Biosciences (AMBI) to Market Perform

Daiichi Sankyo to Acquire Ambit Biosciences (AMBI) for $15/Share

September 29, 2014 6:38 AM EDT

Daiichi Sankyo Company, Ltd. (hereinafter Daiichi Sankyo) and Ambit Biosciences (Nasdaq: AMBI), jointly announced today that they have entered into a definitive merger agreement under which Daiichi Sankyo will acquire all of the outstanding common stock of Ambit Biosciences for $15 per share in cash through a tender offer followed by a merger with a subsidiary of Daiichi Sankyo, or approximately $315 million on a fully diluted basis. In addition to the upfront cash payment, each Ambit Biosciences stockholder will receive one Contingent Value Right (CVR), entitling the holder to receive an additional cash... More