Cooley advised Longboard Pharmaceuticals (Nasdaq: LBPH), a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases, on its $2.6 billion sale to Lundbeck. Under the terms of the agreement, Lundbeck will commence a tender offer for all outstanding shares of Longboard common stock, offering Longboard shareholders $60 per share in cash. The transaction is expected to close in the fourth quarter of 2024, subject to the tender of at least a majority of the total number of Longboard outstanding voting shares, receipt of required regulatory clearances, and other customary conditions.
Longboard Pharmaceuticals Announces $2.6 Billion Sale to Lundbeck