Atea Pharma Rejects Unsolicited Proposal From Tang Capital Partners

RTTNews | 698 days ago
Atea Pharma Rejects Unsolicited Proposal From Tang Capital Partners

(RTTNews) - Biopharmaceutical company Atea Pharmaceuticals, Inc. (AVIR) announced Tuesday that its Board of Directors unanimously rejected the unsolicited proposal from Tang Capital Partners, LP on behalf of Concentra Biosciences, LLC to acquire all outstanding common shares of Atea for $5.75 per share in cash, plus a contingent value right representing the right to receive 80% of the net proceeds payable from any license or disposition of Atea's programs.

After careful review and consideration with its independent financial and legal advisors, the Atea Board of Directors unanimously concluded that the Proposal fundamentally undervalues the Company and is not in the best interests of Atea or its shareholders.

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Singapore Stock Market May Halt Its Slide On Monday

Singapore Stock Market May Halt Its Slide On Monday

The Singapore stock market has moved lower in two straight sessions, slumping almost 10 points or 0.3 percent in that span. The Straits Times Index now sits just under the 3,825-point plateau although it may find traction on Monday.
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KOSPI May Extend Friday's Gains

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Hong Kong Export Data Due On Monday

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