Unfazed by slow rollout, Nestlé buys out Aimmune and its peanut allergy med for $2.6B
After steadily tightening its grip on Aimmune Therapeutics over the past four years, Nestlé is swooping in to take full control.
The Swiss food and drink conglomerate is anting up $2.6 billion to acquire Aimmune at $34.5 per share, 174% more than its closing price on Friday but still a tad below its peak of $39.55 back in 2017.
Add the $473 million worth of stocks Nestlé has bought so far — giving it a 25.6% stake prior to the buyout — and Aimmune is worth well over $3 billion in its new owner’s eyes. The buyout aligns closely with the bolt-on trend that’s dominated the M&A scene in 2020, with companies focusing on products rather than grand ambitions of megamergers.
Keep reading Endpoints with a free subscription
Unlock this story instantly and join 90,500+ biopharma pros reading Endpoints daily — and it's free.