Sage Therapeutics Confirms Receipt of Unsolicited Nonbinding Acquisition Proposal from Biogen
Sage Therapeutics (SAGE) has received an unsolicited, nonbinding acquisition proposal from Biogen (BIIB) to purchase all outstanding shares not already owned by Biogen at $7.22 per share. The Sage Board of Directors, along with independent financial and legal advisors, will review and evaluate the proposal to determine the best course of action for the company and its shareholders. The company emphasized that there is no guarantee of a transaction resulting from this proposal, and shareholders are not required to take any action at this time.
Sage Therapeutics (SAGE) ha ricevuto una proposta di acquisizione non sollecitata e non vincolante da Biogen (BIIB) per acquistare tutte le azioni in circolazione non già possedute da Biogen a 7,22 $ per azione. Il Consiglio di Amministrazione di Sage, insieme a consulenti finanziari e legali indipendenti, esaminerà e valuterà la proposta per determinare il miglior corso d'azione per l'azienda e i suoi azionisti. L'azienda ha sottolineato che non ci sono garanzie che da questa proposta derivi una transazione e che gli azionisti non sono tenuti a intraprendere alcuna azione in questo momento.
Sage Therapeutics (SAGE) ha recibido una propuesta de adquisición no solicitada y no vinculante por parte de Biogen (BIIB) para comprar todas las acciones en circulación que no son ya propiedad de Biogen a 7,22 $ por acción. La Junta Directiva de Sage, junto con asesores financieros y legales independientes, revisará y evaluará la propuesta para determinar el mejor curso de acción para la empresa y sus accionistas. La empresa enfatizó que no hay garantía de que una transacción resulte de esta propuesta y que los accionistas no están obligados a tomar ninguna acción en este momento.
Sage Therapeutics (SAGE)는 Biogen (BIIB)으로부터 비신청, 비구속적 인수 제안을 받았습니다. Biogen이 이미 소유하지 않은 모든 미발행 주식을 주당 7.22달러에 구매하겠다는 내용입니다. Sage 이사회는 독립 재무 및 법률 자문과 함께 제안을 검토하고 평가하여 회사와 주주에게 최선의 행동 방침을 결정할 것입니다. 회사는 이 제안으로 인해 거래가 성사될 것이라는 보장이 없으며, 주주가 현재 어떤 조치를 취해야 할 필요는 없다고 강조했습니다.
Sage Therapeutics (SAGE) a reçu une proposition d'acquisition non sollicitée et non contraignante de Biogen (BIIB) pour acheter toutes les actions en circulation que Biogen ne possède pas déjà à 7,22 $ par action. Le Conseil d'administration de Sage, ainsi que des conseillers financiers et juridiques indépendants, examinera et évaluera la proposition afin de déterminer la meilleure option pour l'entreprise et ses actionnaires. L'entreprise a souligné qu'il n'y a aucune garantie qu'une transaction découle de cette proposition et que les actionnaires ne sont pas tenus de prendre des mesures pour le moment.
Sage Therapeutics (SAGE) hat ein unverlangtes, unverbindliches Übernahmeangebot von Biogen (BIIB) erhalten, um alle ausstehenden Aktien, die noch nicht im Besitz von Biogen sind, zu 7,22 $ pro Aktie zu erwerben. Der Vorstand von Sage wird zusammen mit unabhängigen finanziellen und rechtlichen Beratern das Angebot überprüfen und bewerten, um den besten Kurs für das Unternehmen und seine Aktionäre zu bestimmen. Das Unternehmen betonte, dass es keine Garantie gibt, dass aus diesem Vorschlag eine Transaktion resultiert, und dass die Aktionäre derzeit nicht zu einer Handlung gezwungen sind.
- Potential acquisition offer at $7.22 per share premium
- Interest from major pharmaceutical company Biogen indicates strategic value
- Unsolicited nature of the offer suggests possible hostile takeover attempt
- Low offer price might undervalue the company
Insights
The proposed acquisition at
The nonbinding nature of the proposal and the board's standard response of reviewing the offer suggests this is likely an opening bid. Historical biotech acquisitions typically see final deals close at
The timing is particularly notable as it follows SAGE's commercial launch of ZURZUVAE™ (zuranolone). This suggests Biogen sees untapped value in SAGE's commercial assets and pipeline that isn't reflected in the current market price. Shareholders should anticipate potential counter-negotiations or competing bids, as the current offer may not fully reflect SAGE's intrinsic value and future potential.
The proposed acquisition price of
Notably, this offer follows significant development milestones, including the FDA approval of ZURZUVAE™. The existing collaboration agreement between SAGE and Biogen for zuranolone development and commercialization provides Biogen with unique insight into SAGE's value proposition. However, this insider perspective could also mean they're attempting to acquire the company at a discount before potential value catalysts materialize.
For retail investors, this situation warrants close attention but not immediate action. The board's review process typically takes several weeks to months, during which time competing offers might emerge or Biogen might revise its proposal upward. Historical precedents in biotech M&A suggest final acquisition prices often exceed initial offers by a substantial margin.
No Shareholder Action Required at This Time
Consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, the Sage Board of Directors will carefully review and evaluate the proposal made by Biogen to determine the course of action that it believes is in the best interest of the Company and all Sage shareholders.
There is no guarantee that any transaction will result from Biogen’s proposal. Sage’s shareholders do not need to take any action at this time.
About Sage Therapeutics
Sage Therapeutics (Nasdaq: SAGE) is a biopharmaceutical company committed to our mission of pioneering solutions to deliver life-changing brain health medicines, so every person can thrive. Sage developed the only two FDA-approved treatments indicated for postpartum depression and is advancing a pipeline to target unmet needs in brain health. Sage was founded in 2010 and is headquartered in
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Investor Contact
Ashley Kaplowitz
Ashley.Kaplowitz@sagerx.com
Media Contacts
Francesca Dellelci
Francesca.Dellelci@sagerx.com
Tim Lynch / Jed Repko
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
Source: Sage Therapeutics, Inc.
FAQ
What is the price per share offered by Biogen for SAGE acquisition?
Is the Biogen acquisition of SAGE guaranteed to happen?
Do SAGE shareholders need to take any action regarding Biogen's acquisition proposal?
What type of acquisition proposal did Biogen make for SAGE?
How will SAGE evaluate Biogen's acquisition proposal?
