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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