Orchard Therapeutics Inked A Deal With Kyowa Kirin To Be Acquired For $16.00/ADS In Cash Plus An Additional Contingent Value Right Of $1.00/ADS, Representing A Total Value Of About $477.6M

Author: Benzinga Newsdesk | October 05, 2023 03:46am

Kyowa Kirin Co., Ltd. (Kyowa Kirin, TSE: 4151), a Japan-based global specialty pharmaceutical company (J-GSP) creating innovative medical solutions utilizing the latest biotechnology, and Orchard Therapeutics plc ((Orchard Therapeutics, NASDAQ:ORTX), a global gene therapy leader, today announced the companies have entered into a definitive agreement under which Kyowa Kirin will acquire Orchard Therapeutics for $16.00 per American Depositary Share (ADS) in cash (approximately $387.4 million, or ¥57.3 billion), under which Orchard shareholders will hold an additional contingent value right (CVR) of $1.00 per ADS. An additional $1.00 CVR will be paid for a total of $17.00 per ADS, or approximately $477.6 million (¥70.7 billion) if the conditions are met.

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