Vanda Pharmaceuticals Rejects Deal Proposal From Cycle Group

Dow Jones

Oct 15, 2024

By Josh Beckerman

Vanda Pharmaceuticals rejected a second acquisition proposal from Cycle Group Holdings, saying terms are economically identical to a previously rejected indication of interest and that it substantially undervalues Vanda.

"The board concluded that the latest proposal from Cycle Group is another opportunistic attempt to purchase the company's shares at a discount to Vanda's intrinsic value," Vanda said.

Vanda shares were higher after Cycle reaffirmed its $8-a-share proposal. The stock was recently up 11% to $4.94. Cycle alleges that actions such as Vanda's bylaw changes have disenfranchised stockholders.

In June, Vanda rejected proposals from Cycle and Future Pak.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

October 14, 2024 12:54 ET (16:54 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2475904803"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2475904803\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2475904803?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-15 00:54","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2475904803","market":"sg","top_or_hot":-1,"title":"Vanda Pharmaceuticals Rejects Deal Proposal From Cycle Group","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Josh Beckerman \n</p>\n<pre>\n \n</pre>\n<p>\n  Vanda Pharmaceuticals rejected a second acquisition proposal from Cycle Group Holdings, saying terms are economically identical to a previously rejected indication of interest and that it substantially undervalues Vanda. \n</p>\n<p>\n  \"The board concluded that the latest proposal from Cycle Group is another opportunistic attempt to purchase the company's shares at a discount to Vanda's intrinsic value,\" Vanda said. \n</p>\n<p>\n  Vanda shares were higher after Cycle reaffirmed its $8-a-share proposal. The stock was recently up 11% to $4.94. Cycle alleges that actions such as Vanda's bylaw changes have disenfranchised stockholders. \n</p>\n<p>\n  In June, Vanda rejected proposals from Cycle and Future Pak. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 14, 2024 12:54 ET (16:54 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vanda Pharmaceuticals Rejects Deal Proposal From Cycle Group</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVanda Pharmaceuticals Rejects Deal Proposal From Cycle Group\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-15 00:54</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Josh Beckerman \n</p>\n<pre>\n \n</pre>\n<p>\n  Vanda Pharmaceuticals rejected a second acquisition proposal from Cycle Group Holdings, saying terms are economically identical to a previously rejected indication of interest and that it substantially undervalues Vanda. \n</p>\n<p>\n  \"The board concluded that the latest proposal from Cycle Group is another opportunistic attempt to purchase the company's shares at a discount to Vanda's intrinsic value,\" Vanda said. \n</p>\n<p>\n  Vanda shares were higher after Cycle reaffirmed its $8-a-share proposal. The stock was recently up 11% to $4.94. Cycle alleges that actions such as Vanda's bylaw changes have disenfranchised stockholders. \n</p>\n<p>\n  In June, Vanda rejected proposals from Cycle and Future Pak. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 14, 2024 12:54 ET (16:54 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2475904803","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2475904803","pubTimestamp":1728924840,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Vanda Pharmaceuticals rejected a second acquisition proposal from Cycle Group Holdings, saying terms are economically identical to a previously rejected indication of interest and that it substantially undervalues Vanda.\"The board concluded that the latest proposal from Cycle Group is another opportunistic attempt to purchase the company's shares at a discount to Vanda's intrinsic value,\" Vanda said.Vanda shares were higher after Cycle reaffirmed its $8-a-share proposal. The stock was recently up 11% to $4.94. Cycle alleges that actions such as Vanda's bylaw changes have disenfranchised stockholders.In June, Vanda rejected proposals from Cycle and Future Pak.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","VNDA":"万达生物制药"},"translate_title":"Vanda Pharmaceuticals拒绝Cycle Group的交易提议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VNDA":1},"content_text":"By Josh Beckerman \n\n\n \n\n\n  Vanda Pharmaceuticals rejected a second acquisition proposal from Cycle Group Holdings, saying terms are economically identical to a previously rejected indication of interest and that it substantially undervalues Vanda. \n\n\n  \"The board concluded that the latest proposal from Cycle Group is another opportunistic attempt to purchase the company's shares at a discount to Vanda's intrinsic value,\" Vanda said. \n\n\n  Vanda shares were higher after Cycle reaffirmed its $8-a-share proposal. The stock was recently up 11% to $4.94. Cycle alleges that actions such as Vanda's bylaw changes have disenfranchised stockholders. \n\n\n  In June, Vanda rejected proposals from Cycle and Future Pak. \n\n\n \n\n\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 14, 2024 12:54 ET (16:54 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}