Sum­it­o­mo clinch­es My­ovant buy­out af­ter up­ping of­fer to $2.9B

A few weeks af­ter balk­ing at a buy­out of­fer, My­ovant Sci­ences ap­pears to have suc­cess­ful­ly ne­go­ti­at­ed up­ward.

The for­mer Vivek Ra­maswamy com­pa­ny ac­cept­ed a deal from its ma­jor­i­ty own­er Sum­it­o­mo Phar­ma to buy out the rest of its shares, My­ovant an­nounced Sun­day night. Al­ready own­ing a 52% stake, Sum­it­o­mo bought out the re­main­ing share­hold­ers for $1.7 bil­lion, a deal that val­ued My­ovant at $2.9 bil­lion.

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