Siddhartha Mukherjee (Brian Ach/Getty Images for The New Yorker)

All Blue's $733M bid to ac­quire Zymeworks turns hos­tile as board bat­tles back — af­ter a biotech celebri­ty jumps in

Yes­ter­day, the team at All Blue Cap­i­tal — bent on the takeover of a bad­ly bat­tered Zymeworks — brought in cel­e­brat­ed on­col­o­gist, Pulitzer prize-win­ning writer and biotech ex­ec Sid­dhartha Mukher­jee to add some glitz to their pro­posed board. But they’re still not win­ning over any con­verts.

This morn­ing, Zymeworks’ board of­fi­cial­ly turned this ac­qui­si­tion of­fer in­to a hos­tile show­down, re­ject­ing the un­so­licit­ed of­fer and mar­shal­ing its forces to pre­vent a buy­out at $10.50 per share.

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