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Posted On: 07/12/2023 4:26:16 PM
Post# of 148899
Look at LMNL. Another one on my watch list has been been purchased.
Doesn’t look like it was favorable and they are going private. Buyouts are not always the best for investors. They did a split before this.
“Liminal BioSciences Shares Hit 52-Week High After Buyout Offer
Mentioned: LMNL
By Chris Wack
Liminal BioSciences shares were up 40% at $8.32 after the company said Wednesday that Structured Alpha, a fund managed by Thomvest Asset Management, will buy all of the issued and outstanding common shares of Liminal BioSciences that it doesn't already own.
The stock hit its 52-week high of $8.36 earlier in the session, and is up 41% in the past 12 months.
Under the terms of the deal, Liminal BioSciences shareholders will receive $8.50 in cash per share, which represents a premium of 135% over Liminal BioSciences' closing share price on April 4, which is $1 a share more than Structured Alpha's initial non-binding proposal.
A termination fee of $322,000 would be payable by Liminal to Structured Alpha in certain circumstances, including if Structured Alpha fails to exercise its right to match in the context of a superior proposal supported by the company.
The transaction is expected to close no later than Sept. 30.
Write to Chris Wack at chris.wack@wsj.com”
Doesn’t look like it was favorable and they are going private. Buyouts are not always the best for investors. They did a split before this.
“Liminal BioSciences Shares Hit 52-Week High After Buyout Offer
Mentioned: LMNL
By Chris Wack
Liminal BioSciences shares were up 40% at $8.32 after the company said Wednesday that Structured Alpha, a fund managed by Thomvest Asset Management, will buy all of the issued and outstanding common shares of Liminal BioSciences that it doesn't already own.
The stock hit its 52-week high of $8.36 earlier in the session, and is up 41% in the past 12 months.
Under the terms of the deal, Liminal BioSciences shareholders will receive $8.50 in cash per share, which represents a premium of 135% over Liminal BioSciences' closing share price on April 4, which is $1 a share more than Structured Alpha's initial non-binding proposal.
A termination fee of $322,000 would be payable by Liminal to Structured Alpha in certain circumstances, including if Structured Alpha fails to exercise its right to match in the context of a superior proposal supported by the company.
The transaction is expected to close no later than Sept. 30.
Write to Chris Wack at chris.wack@wsj.com”
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