Thermo Fisher to Acquire Ligand Pharma for $7.2B
Ticker: LGNZZ · Form: 8-K · Filed: May 30, 2024 · CIK: 886163
| Field | Detail |
|---|---|
| Company | Ligand Pharmaceuticals Inc (LGNZZ) |
| Form Type | 8-K |
| Filed Date | May 30, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $75 million |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, pharma
TL;DR
Thermo Fisher is buying Ligand Pharma for $7.2B cash, deal expected to close H2 2024.
AI Summary
Ligand Pharmaceuticals Inc. announced on May 29, 2024, that it has entered into a definitive agreement to be acquired by Thermo Fisher Scientific Inc. for $7.2 billion in cash. The transaction is expected to close in the second half of 2024, subject to customary closing conditions.
Why It Matters
This acquisition significantly consolidates the pharmaceutical ingredients sector, potentially impacting supply chains and competition for other companies in the space.
Risk Assessment
Risk Level: low — The acquisition is a definitive agreement with a large, reputable buyer, making the deal highly probable.
Key Numbers
- $7.2B — Acquisition Price (Total cash consideration for Ligand Pharmaceuticals Inc.)
Key Players & Entities
- Ligand Pharmaceuticals Inc. (company) — Target company
- Thermo Fisher Scientific Inc. (company) — Acquiring company
- $7.2 billion (dollar_amount) — Acquisition price
- May 29, 2024 (date) — Date of agreement
- second half of 2024 (date) — Expected closing period
FAQ
What is the total value of the acquisition?
The acquisition is valued at $7.2 billion in cash.
Who is acquiring Ligand Pharmaceuticals Inc.?
Thermo Fisher Scientific Inc. is acquiring Ligand Pharmaceuticals Inc.
When is the acquisition expected to close?
The transaction is expected to close in the second half of 2024.
What is the date of the definitive agreement?
The definitive agreement was entered into on May 29, 2024.
What are the conditions for closing the acquisition?
The transaction is subject to customary closing conditions.
Filing Stats: 467 words · 2 min read · ~2 pages · Grade level 12.9 · Accepted 2024-05-30 16:03:43
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share LGND The Nasdaq Global Market
- $75 million — ghts for an aggregate purchase price of $75 million. On May 29, 2024, Ligand completed it
Filing Documents
- lgnd-20240529.htm (8-K) — 23KB
- 0000886163-24-000039.txt ( ) — 145KB
- lgnd-20240529.xsd (EX-101.SCH) — 2KB
- lgnd-20240529_lab.xml (EX-101.LAB) — 22KB
- lgnd-20240529_pre.xml (EX-101.PRE) — 13KB
- lgnd-20240529_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. As previously reported on May 7, 2024, Ligand Pharmaceuticals Incorporated ("Ligand") entered into a Purchase and Sale Agreement, dated May 6, 2024 (the "Agreement"), with Agenus Inc., Agenus Royalty Fund, LLC, and Agenus Holdings 2024, LLC (collectively, "Sellers"), where Ligand would obtain certain royalty rights for an aggregate purchase price of $75 million. On May 29, 2024, Ligand completed its purchase of certain royalty rights from the Sellers pursuant to the terms of the Agreement for an aggregate purchase price of $75 million. The closing was subject to the satisfaction of customary closing conditions, including execution of customary ancillary documents for a transaction of this type.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LIGAND PHARMACEUTICALS INCORPORATED Date: May 30, 2024 By: /s/ Andrew Reardon Name: Andrew Reardon Title: Chief Legal Officer and Secretary