AbbVie's $10B ImmunoGen deal was won by paying $7 a share over a rival bidder's offer, SEC filings show
In ImmunoGen’s months-long negotiations to sell itself, AbbVie came in relatively late but managed to seal the deal with an offer much higher than rival bids, an SEC document reveals.
On Nov. 30, AbbVie announced that it was acquiring ImmunoGen and its antibody-drug conjugate portfolio for $10.1 billion, just over a month after representatives of ImmunoGen first reached out. The pharma giant beat a “Party A” — the company that had initiated the whole process back in April — and a “Party B” that put in multiple proposals to acquire ImmunoGen.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
