bullish

Myovant Sciences (MYOV US): Rejects Sumitomo’s $2.5B Bid; Remains Open for Better Offer

405 Views07 Oct 2022 18:30
SUMMARY
  • Myovant Sciences (MYOV US) rejected $2.5 billion takeover offer from its largest shareholder, Sumitomo Dainippon Pharma Co (4506 JP), as the bid significantly undervalues the company.
  • Amid its tight cash situation, upcoming patent cliff, and ongoing late-stage clinical trials, Sumitomo is not expected to revise its offer upward.
  • New acquisition offer from marketing partner Pfizer is the most likely scenario. Even if the company does not receive any takeover offer, Myovant is capable of running its operating activities.
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
  • Unlock research summaries
  • Follow top, independent analysts
  • Receive personalised alerts
  • Access Analytics, Events and more

Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.

Upgrade later to our paid plans for full-access.

or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
chart-bar
Logo
Rising
Tina Banerjee
Global Healthcare Analyst
Health CareEquity Bottom-UpThematic (Sector/Industry)
Price Chart(Sign Up to Access)
analytics-chart
x