Congrats to anyone on ASF who has held onto these.
I bought my first parcel years ago.
Great takeover announcement today. Offer is $A 1.03 for ASX CDI's and $US16.99 for US Common Stock holders. Hopefully there will be more counter-takeover offers out there for the dedication and research poured into this life-changing product. LEO's offer is way to low IMHO.
Let's see what unfolds
Danish biotech to buy Emeryville's Peplin
Danish pharmaceutical company LEO Pharma A/S will buy Emeryville’s Peplin Inc. for $287.5 million.
The deal would cap a year-plus of change for Peplin, which was based in Australia until 2007 when South San Francisco venture capital firm MPM Capital invested in it. The company withdrew a $75 million IPO in June 2008, hired a new management and lined up $24 million in funding last year that it hoped would take it through Phase III for a treatment of a precancerous skin condition.
Peplin, publicly traded in Australia, said the purchase price equals US$16.99 per share.
LEO, based in Copenhagen, also will provide Peplin with a loan facility to fund operations until the transaction closes, which the companies expect to occur by the end of the year.
The deal was approved by both companies boards of directors, and large Peplin shareholders MPM Capital and GBS Venture Partners agreed to vote in favor of the transaction.
Peplin’s lead drug candidate, PEP-005, is a gel for actinic keratosis. It is derived from an Australian weed.