MEI Phar­ma re­ceives un­so­licit­ed of­fer as it pro­ceeds with In­fin­i­ty merg­er

MEI Phar­ma, a San Diego-based biotech, has re­ceived an un­so­licit­ed of­fer to ac­quire its busi­ness.

Last week, as­set man­age­ment com­pa­ny An­son Ad­vi­sors and in­vest­ment firm Ca­ble Car Cap­i­tal made the of­fer, MEI an­nounced Tues­day evening. Ac­cord­ing to an SEC fil­ing, the firms plan to ac­quire all of MEI’s out­stand­ing shares for no less than $8.00 per share in cash, plus a CVR to re­ceive 80% of net pro­ceeds from any li­cense or dis­po­si­tion of MEI’s as­sets.

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