Is it re­al­ly over? La Jol­la signs ac­qui­si­tion with Tetraphase af­ter out­bid­ding Acel­Rx, Melin­ta

La Jol­la has staked a claim as the lat­est vic­tor in the bid­ding war for Tetraphase, seal­ing the deal with $43 mil­lion in up­front cash and $16 mil­lion worth of con­tin­gent val­ue rights.

Lat­est be­cause both Acel­Rx and Melin­ta have an­nounced they’ve “reached de­fin­i­tive merg­er agree­ments” with Tetraphase be­fore — on­ly to be snubbed in a one-sided breakup. The ter­mi­na­tion fee amount­ed to over $1 mil­lion, a con­sid­er­able fig­ure for a com­pa­ny whose stock was trad­ing at 87 cents when the first buy­out was an­nounced.

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