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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