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Astellas to acquire Ocata
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Astellas Pharma has entered into a definitive agreement to acquire Ocata Therapeutics, according to a press release.
Astellas will acquire Ocata through Laurel Acquisition, a wholly owned subsidiary of Astellas. Laurel will commence a tender offer for all outstanding shares of Ocata’s common stock for $8.50 per share in cash.
Laurel will be merged into Ocata upon successful completion of the tender offer. Any remaining shares of Ocata’s common stock will be canceled and converted into the right to receive the offer price except for shares held by stockholders who demand appraisal rights under Delaware law, the release said.
Ocata’s board of directors will recommend that stockholders enter into the tender offer.
“We’re confident that we will turn innovative science into value for patients through the creation of new value by combining both companies’ capabilities under ‘One Astellas,’ where Ocata will be taking a key role in Astellas’ R&D in ophthalmology and cell therapy,” Yoshihiko Hatanaka, president and CEO of Astellas, said in the release.