UCB Agrees To Buy Ra Pharma In $2.1 Bln Deal

(RTTNews) - UCB agreed to acquire Ra Pharmaceuticals Inc. (RARX) for $48 per share in cash, valuing the deal at about $2.1 billion, net of Ra Pharma cash.

The cash consideration represents an about 93% premium to Ra Pharma shareholders based on the 30-day volume weighted average closing stock price of Ra Pharma prior to signing. The companies have unanimously approved the transaction, which remains subject to approval by Ra Pharma shareholders and to obtaining antitrust clearance and other customary closing conditions.

It is expected to complete the transaction by the end of the first-quarter of 2020.

UCB said that the acquisition will not impact its 2019 financial guidance. It would be dilutive to UCB's mid-term earnings level.