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Monday, August 31, 2020

Aimmune Therapeutics (AIMT) to be acquired by Nestle (NSRGY) for $34.50 per share

  • Following years of increasing its financial position in California-based Aimmune, Sociétés des Produits Nestlé, S.A., a part of Nestlé Health Science, acquired the outstanding shares of the food allergy-focused company for $2.6 billion in cash.
  • Aimmune, which won regulatory approval in February for Palforzia, a first-of-its-kind treatment for patients with peanut allergies. Palforzia [Peanut (Arachis hypogaea) Allergen Powder-dnfp] is an oral treatment indicated to mitigate allergic reactions to peanuts.


Aimmune Therapeutics to be acquired by unit of Nestle Health Science (NSRGY) for $34.50 per share

  • Aimmune Therapeutics, a biopharmaceutical company developing and commercializing treatments for potentially life-threatening food allergies, announced that it has entered into a definitive agreement for Socits des Produits Nestl, S.A. to acquire Aimmune for $34.50 per share in an all-cash transaction, implying a fully-diluted equity value of $2.6 bln. Socits des Produits Nestl, S.A. is a part of Nestl Health Science (NHSc) and a wholly owned subsidiary of Nestl S.A.
  • Under the terms of the merger agreement, Nestl S.A.'s wholly-owned subsidiary Socit des Produits Nestl S.A. (SPN) will commence a cash tender offer to acquire all outstanding shares of Aimmune common stock that are not already owned by NHSc for $34.50 per share in cash, and Aimmune agreed to file a recommendation statement containing the unanimous recommendation of the independent members of the Aimmune board that Aimmune stockholders tender their shares to SPN.
    • Following the completion of the tender offer, Nestl expects to promptly consummate a merger of Aimmune with a subsidiary of SPN, in which shares of Aimmune that have not been tendered in the tender offer will be acquired by SPN and converted into the right to receive the same cash price per share as paid in the tender offer.
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