By Colin Kellaher
Shares of Theratechnologies rose sharply in premarket trading Thursday after the biopharmaceutical company agreed to be acquired by privately held pharmaceutical and nutraceutical products maker Future Pak for up to $254 million.
Theratechnologies late Wednesday said Future Pak will pay an initial $3.01 a share in cash for the Montreal company, a nearly 28% premium to Wednesday's closing price of $2.36 for its U.S.-listed shares and more than double its closing price of $1.33 on April 10, the day before Future Pak announced its pursuit of the company.
Theratechnologies investors will also receive contingent value rights worth up to an additional $1.19 a share tied to certain profit milestones, which could bring the total transaction consideration to $4.20 a share, or $254 million.
U.S.-listed shares of Theratechnologies were recently up 32% at $3.12 in premarket trading.
The deal is slated to close by the end of November.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 03, 2025 06:03 ET (10:03 GMT)
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