Akcea’s board managed to get Ionis to boost its buyout bid a bit, but never got close to a 2019 acquisition offer
How do you negotiate with a majority owner?
Very carefully, it’s safe to conclude, reviewing the insider account of Ionis’ move to reel back Akcea into the fold after spinning it out in an IPO three years ago.
It turns out that Akcea $AKCA went hunting for a buyout offer last year, according to its filing with the SEC, but turned down an offer of $23.50 a share, which then represented a slight 6.9% premium on top of what the stock was trading for at the time.
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