Celera Genomics to acquire Axys in $174 million deal
Celera Genomics to acquireAxys in $174 million deal
Celera Genomics is to acquire biopharmaceutical company Axys Pharmaceuticals in a stock-for-stock transaction which has been unanimously approved by the boards of both companies. The deal is valued at around $174 million.
The transaction is structured as a tax-free reorganization and would be accounted for under the purchase method. A collar mechanism will determine the ultimate exchange ratio delivered to Axys shareholders, based on the average closing price of Celera common stock for the 10 trading days up until two days prior to closing. Based on Celera's closing price on June 12, the day before the announcement, Axys stockholders would have received $4.65 per share payable in Celera common stock.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze