Jazz Pharmaceuticals (JAZZ) has agreed to acquire Chimerix (CMRX) for $8.55 per share in cash, representing a total consideration of about $935 million, the companies said Wednesday.
The deal consideration reflects a roughly 72% premium based on the company's closing trading price Tuesday.
Upon the successful completion of its tender offer, Jazz will acquire all Chimerix shares not acquired in the tender via a second-step merger, the companies said.
The deal is expected to close in Q2.
Chimerix shares were up 4.6% in recent premarket activity, while Jazz rose 0.1%.
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