Xoma Corp (XOMA) has released an update.
XOMA Corporation has announced a definitive Merger Agreement with Kinnate Biopharma Inc., under which XOMA will acquire Kinnate through a cash tender offer and merger, making Kinnate a wholly owned subsidiary. The transaction includes a base cash amount per share plus potential additional cash and one contingent value right per share. Kinnate’s Board has unanimously approved the merger, which is expected to close promptly after the tender offer is completed, subject to customary conditions and regulatory approvals. This strategic move aims to enhance the combined entity’s position in the biopharmaceutical sector.
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