Vanda Pharmaceuticals (VNDA.O) said on Wednesday that it has rejected takeover offers from UK-based Cycle Pharmaceutical and a revised bid from contract manufacturer Future Pak, adding that both offers undervalue the U.S. drugmaker. This is the third time Vanda has rejected a buyout offer from Future Pak. After its first offer from Future Pak in April, Vanda adopted a shareholder rights plan, known as a “poison pill”, to reduce the chances of a hostile takeover.
Read the full article: Vanda Rejects Future Pak and Cycle Pharma’s Takeover Offers //
Source: https://www.reuters.com/markets/deals/vanda-rejects-future-pak-cycle-pharmas-takeover-offers-2024-06-20/