Alexza Pharmaceuticals To Buy Outstanding Shares
Edison | Mar 08, 2016 09:54AM ET
Alexza Pharmaceuticals (NASDAQ:ALXA) disclosed on 26 February that it had entered into a non-binding 8 March 2016 letter of intent (LOI) from Ferrer on 15 February to acquire all outstanding Alexza common shares, and Alexza agreed to proceed with discussions to help further facilitate Ferrer’s due diligence. Although Ferrer has already completed a significant amount of due diligence, a key factor in the negotiations will be determining a price acceptable to both parties. Ferrer’s LOI signaled it could potentially finalize a formal offer within 20 days. We are placing our valuation under review, pending the outcome of the Ferrer approach. Our last published equity valuation was $20.9m.
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