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Revance Therapeutics Inc. has entered into an amended and restated merger agreement with Crown Laboratories, adjusting the terms of their previous deal. The new agreement sets the tender offer price at $3.10 per share, a significant reduction from the initial $6.66 per share. This adjustment comes amidst a dispute with Teoxane, which has influenced Crown Labs' decision to lower the offer price. The merger aims to broaden Crown Laboratories' aesthetic offerings, as stated by Crown's CEO.
Johnson City-based pharmaceutical company Crown Laboratories on Monday announced it had entered into a merger agreement with Revance Therapeutics, Inc. that Crown’s CEO says will broaden its “cutting edge aesthetic offerings.” https://t.co/fGmGBj2Yqr
This $RVNC / Crown Laboratories deal was cursed from day 1 The initial deal was struck at $6.66, the devil's number Then the transaction was repriced downward by an unprecedented -53.5% to $3.1, or lucky 13 backward (another bad omen!) Arbs may need some holy water on this one https://t.co/uYaJn24mA6
Revance agrees to lower take-private offer by Crown Labs https://t.co/Xajo8TZcAx https://t.co/ESNly7jxXk
