Centessa to be Acquired by Eli Lilly for $38 per Share
Centessa (CNTA) which entered into a definitive agreement relating to its proposed acquisition by Eli Lilly (LLY), through a wholly owned subsidiary, announced that the High Court of Justice of England and Wales has approved the proposal for Lilly to acquire Centessa for $38.00 in cash per share plus one non-transferable contingent value right that entitles the holder to receive up to an aggregate of $9.00 subject to the achievement of three milestones, for a total transaction value of approximately $7.8B. The transaction is being implemented by way of a court-sanctioned scheme of arrangement under English law. Centessa announced that the court has issued the court order sanctioning the scheme. Closing of the transaction will occur and the Scheme will become effective upon the court order being delivered to the Registrar of companies, which is expected to occur on June 24. The last day of trading of Centessa American depositary shares on Nasdaq is expected to be tomorrow, June 23, with trading in Centessa ADSs on Nasdaq being halted before the opening of trading on June 24.
