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Incyte Corp (INCY) has shared an announcement.
In an intriguing move within the financial market, Incyte Corporation has struck a deal on May 12, 2024, with board director Julian C. Baker and associated parties, who collectively hold a significant 16.4% stake in the company. They have agreed not to partake in Incyte’s upcoming $1.672 billion tender offer but will instead sell back shares to maintain their proportional ownership post-offer. This arrangement, valued around $328 million, is conditional on the tender offer’s success and has received the green light from the company’s Audit and Finance Committee. The announcement was followed by a press release, showcasing Incyte’s strategic efforts to manage its stock ownership effectively.
For an in-depth examination of INCY stock, go to TipRanks’ Stock Analysis page.