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Cephalon buys CIMA for $492mm in cash
13 Aug 2004
Executive Summary
After its first proposal of $26 per share was rejected in favor of another suitor, Cephalon has won the bidding war to acquire drug delivery company CIMA Labs for about $492mm (over 20 times CIMA's 2002 sales). It paid $34 per share in cash for each outstanding CIMA share (a 10% premium to the market average), winning out over specialty pharmaceuticals company aaiPharma's stock-for-stock bid that valued CIMA at only $25.86 per share.
Deal Industry
- Biotechnology
- Pharmaceuticals
-
Pharmaceuticals
- Drug Delivery
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Intra-Biotech Deal
- Payment Includes Cash
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Cephalon buys CIMA for $492mm in cash
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