Novo Nordisk Announces Completion of Dicerna Pharmaceuticals Acquisition

Rhea-AI Summary

Novo Nordisk has successfully completed the acquisition of Dicerna Pharmaceuticals (NASDAQ: DRNA) on 27 December 2021. After a cash tender offer, Novo Nordisk acquired approximately 64.9 million shares of Dicerna, representing 82.6% of its outstanding shares, at a price of USD 38.25 per share. Following the merger, Dicerna is now a wholly owned subsidiary of Novo Nordisk, and its common stock will no longer be traded on Nasdaq.

Positive

• Dicerna's acquisition allows Novo Nordisk to enhance its capabilities in RNAi technology.
• Strategic integration expected to lead to increased R&D efficiency and potential market expansion.

Negative

• Dicerna's stock will be delisted from Nasdaq, limiting liquidity for former shareholders.
• Integration costs and challenges might impact short-term financial performance.

LEXINGTON, Mass.--(BUSINESS WIRE)-- Novo Nordisk today announced that the acquisition of Dicerna Pharmaceuticals, Inc. (Dicerna; Nasdaq: DRNA), announced on 18 November 2021, has been completed.

Following the expiration of Novo Nordisk’s cash tender offer for Dicerna, Novo Nordisk has today acquired all outstanding shares of common stock of Dicerna at a price of USD 38.25 per share in cash, without interest and less any applicable tax withholding.

Novo Nordisk has been advised by the depositary for the tender offer that a total of approximately 64,946,526 shares of Dicerna’s common stock were validly tendered and not validly withdrawn in the tender offer as of the tender offer expiration at 5.00 pm EST on 27 December 2021, which represent approximately 82.6% of the total number of shares of Dicerna’s common stock outstanding.

Following the finalisation of the tender offer, Novo Nordisk completed the acquisition of Dicerna today through a merger of Novo Nordisk’s wholly owned subsidiary with and into Dicerna in which all shares not tendered into the offer were cancelled and converted into the right to receive cash equal to the USD 38.25 offer price per share, without interest, less any applicable tax withholding.

At the completion of the merger, Dicerna became a wholly owned subsidiary of Novo Nordisk. The common stock of Dicerna will no longer be listed or traded on the Nasdaq Global Select Market.

About the acquisition
For more information, please see:

Novo Nordisk to acquire Dicerna Pharmaceuticals including the RNAi research technology platform

About Novo Nordisk
Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat diabetes and other serious chronic diseases such as obesity and rare blood and endocrine disorders. We do so by pioneering scientific breakthroughs, expanding access to our medicines, and working to prevent and ultimately cure disease. Novo Nordisk employs about 47,000 people in 80 countries and markets its products in around 170 countries. For more information, visit novonordisk.com, Facebook, Twitter, LinkedIn and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211227005121/en/

Media:

Anne Margrethe Hauge

+45 3079 3450

amhg@novonordisk.com

Michael Bachner (US)

+1 609 664 7308

mzyb@novonordisk.com

Investors:

Daniel Muusmann Bohsen

+45 3075 2175

dabo@novonordisk.com

Ann Søndermølle Rendbæk

+45 3075 2253

arnd@novonordisk.com

David Heiberg Landsted

+45 3077 6915

dhel@novonordisk.com

Mark Joseph Root (US)

+1 848 213 3219

mjhr@novonordisk.com

Source: Dicerna Pharmaceuticals, Inc.

FAQ

What was the acquisition price for Dicerna Pharmaceuticals?

Novo Nordisk acquired Dicerna Pharmaceuticals for USD 38.25 per share.

When was the acquisition of Dicerna Pharmaceuticals completed?

The acquisition was completed on 27 December 2021.

How many shares were tendered in the acquisition of Dicerna?

Approximately 64,946,526 shares of Dicerna were validly tendered.

What impact does the acquisition have on Dicerna's stock?

Dicerna's common stock will no longer be listed or traded on Nasdaq after the acquisition.

What strategic benefit does Novo Nordisk gain from acquiring Dicerna?

Novo Nordisk enhances its capabilities in RNA interference technology, which could lead to new treatment developments.