Bizarre takeover bid is dropped; Merck KGaA in licensing pact with Domain
• You knew things were going to get weird when the ex-CEO of InVivo Therapeutics $NVIV claimed to have offered $77 million to buy the company — roughly half of its market cap — with plans to rename the company after himself. And the principals didn’t disappoint. Today, PixarBio CEO Frank Reynolds says the company has withdrawn its offer to buy InVivo “for reasons related to management credibility and competence, corporate governance and IP control.” It linked to a 4-page letter outlining a list of grievances against InVivo, which had earlier sued him.
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