$357M deal gives Medicago to Mitsubishi
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| photo: Medicago.com |
Medicago and Mitsubishi this morning announced that Japan-based Mitsubishi Tanabe Pharma will acquire the Canadian vaccine company for $357 million.
Medicago operates a facility in Research Triangle Park, where it uses tobacco plants to produce flu vaccine more rapidly than traditional methods.
Mitsubishi will pay $1.16 for each outstanding share of Medicago common stock. This is above the Thursday's closing price of $0.95 on the Toronto Stock Exchange. The deal does not include shares owned by Phillip Morris, which will retain 40 percent of the company.
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- Full news release
- WRAL TechWire (subscription required)
- Medicago taken out by Japan's Mitsubishi Tanabe in $357M deal (Proactive Investors)
- Mitsubishi to snap up vaccine developer Medicago (Fierce Biotech)
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