A three-year experiment comes to an end, as Ionis reabsorbs Akcea for $500M
Akcea’s three-year run as a semi-independent company is coming to an end.
Ionis announced early Monday morning that they will be reacquiring the public shares of its lipid-focused spinout Akcea. Akcea began as a fully-owned subsidiary before Ionis put about a quarter of its shares on the public markets. Now, for about $500 million — $18.15 per share — Ionis will buy that quarter back.
The acquisition was a 60% premium on Akcea’s stock entering Monday, although it will immediately give Ionis access to the $390 million in cash Akcea had on hand.
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