Market Updates
CinCor Pharma Agrees to $1.8 Billion AstraZeneca Deal
Scott Peters
09 Jan, 2023
New York City
CinCor Pharma increased 144% to $28.74 after the company agreed to be acquired by AstraZeneca for a price of $26.00 per share in cash at closing.
The deal also includes an additional non-tradable contingent value right of $10 a share in cash payable upon a specified regulatory submission of a baxdrostat product.
The total value of the deal is about $1.8 billion and the deal is expected to close in the first quarter.
The upfront cash portion of the consideration represents a transaction value of approximately $1.3 billion and a 121% premium over CinCor
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