To be acquired by Actavis for $23/shr (plus CVRs for up to $5/shr), Total deal value $675M in cash
- Actavis will commence a tender offer to acquire all of the outstanding shares of Durata common stock for $23.00 per share in cash, or approximately $675 million in the aggregate, and contingent value rights (CVRs) entitling the holder to receive additional cash payments of up to $5.00 per share if certain regulatory or commercial milestones related to Durata's lead product DALVANCETM are achieved. Actavis expects the acquisition to be accretive by the end of the first year.- If DALVANCETM is approved in Europe for ABSSSI, holders of the CVR will receive $1.00 per share.
If DALVANCETM is approved for single dose administration by the FDA, holders of the CVR will receive $1.00 per share. If a net global DALVANCETM revenue threshold is met over a designated time period, holders of the CVR will receive $3.00 per share.