CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
Eli Lilly and Company announced on Wednesday, Dec. 27, that it has successfully completed its buyout of the radiopharmaceutical firm that develops cancer treatment, POINT Biopharma Global Inc. The deal is worth about $1.4 billion.
Total Shares Acquired
The multi-million price is for Eli Lilly's acquisition of almost 72.8 million shares of POINT Biopharma. This portion of the shares is said to correspond to more or less 67.97% of the outstanding shares.
As per RTT News, the biopharma firm has a line of clinical and preclinical-stage radioligand therapies that are currently in development. These are for the treatment of cancer diseases, and Eli Lilly is bound to benefit from this as the companies merge. In any case, with the acquisition, Point Biopharma is now set to be delisted from the Nasdaq.
Financial Terms and Other Details of the Deal
Eli Lilly's tender offer to buy all of the issued and outstanding shares of common stock of the Pittsburgh, Pennsylvania-headquartered biopharma company at a purchase price of $12.50 per share without interest has expired right on schedule of 5:00 p.m. on Dec. 22; thus an extension was not necessary. The amount will be paid in cash, less any applicable tax withholding.
"Next-generation radioligand therapies hold great promise for delivering meaningful advances against a range of cancers and we are excited to enter this space through the addition of POINT," Loxo@Lilly's executive vice president and president, Jacob Van Naarden, said in a press release. "We welcome POINT colleagues to Lilly and look forward to working together to build on their work as we create this new capability within Lilly. In time, I hope we can bring several new radioligand therapies to patients with cancer and improve their outcomes."
Goldman Sachs & Co. LLC has been hired as Eli Lilly's exclusive financial advisor, while Kirkland & Ellis LLP is serving as its legal counsel. On the other hand, POINT Biopharma appointed Centerview Partners LLC as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its legal counsel.
Photo by: Lilly Press Release
