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Monday, October 30, 2017

Neos Therapeutics (NEOS) rejects PDL BioPharma's (PDLI) buyout bid

 Update: Neos Therapeutics (NEOS) was acquired by Aytu BioScience (NASDAQ:AYTU). (Dec 10, 2020)



Neos Therapeutics rejects unsolicited $10.25/share proposal from PDL BioPharma (PDLI) 
Neos noted that PDL's October proposal is identical in all material respects to proposals received in June, July and September from PDL, which were also reviewed and unanimously rejected by the Neos Board. After a comprehensive review, conducted in consultation with its financial and legal advisors, the Neos Board affirmed its previous determinations that PDL's proposal undervalues Neos, does not reflect Neos' strategic value and future prospects for continued growth and value creation, and is not in the best interests of the Company or Neos shareholders.

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