By Josh Beckerman
Future Pak has offered to buy Theratechnologies, which said it is in deal talks with another unnamed company.
Future Pak, a contract manufacturer and packager of pharmaceutical and nutraceutical products, said its most recent proposal offers a cash consideration of $3.51 to $4.50 per share and represents a total enterprise value of up to $255 million.
On Nasdaq, shares of Montreal-based biopharmaceutical company Theratechnologies rose 46% in the regular session, and were up 19% to $2.32 after hours. The company is also listed on the Toronto Stock Exchange.
Theratechnologies said it received a first unsolicited non-binding proposal from Future Pak in August. It said the proposed closing cash consideration of $100 million wasn't attractive to the board, and the company rejected it. It received a second proposal in January. At that time it was under exclusivity with the other potential buyer.
Theratechnologies is negotiating a definitive agreement with the unnamed suitor. If a definitive agreement is reached, it will contain a "go shop" provision allowing talks with other potential buyers including Future Pak.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 11, 2025 18:53 ET (22:53 GMT)
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