As its slide stretches into a second year, Zymeworks faces takeover bid
Zymeworks’ new CEO Kenneth Galbraith has vastly remade the nearly 20-year-old biotech in the few short months he’s run the show. But his efforts to turn things around have apparently ruffled some feathers.
All Blue Falcons, a roughly 5% shareholder in Zymeworks, sent the biotech’s board an unsolicited takeover bid late Thursday hoping to take the company private for about $773 million. The offer values Zymeworks stock $ZYME at $10.50 per share, close to a 116% premium over Wednesday’s closing price of $4.88.
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