Eidos Therapeutics has received a non-binding proposal dated August 8, 2019 (the Proposal) from BridgeBio Pharma, Inc., the parent entity of the Company’s majority stockholder (BridgeBio), to purchase all of the outstanding common stock of the Company not already owned by BridgeBio.
BridgeBio currently owns, through its wholly-owned subsidiary, BridgeBio Pharma LLC, approximately 66.6% of the outstanding shares of the Company’s common stock.
According to the terms of the Proposal, which is subject to certain conditions, BridgeBio would acquire all of the shares of common stock of the Company not already owned by BridgeBio for a fixed exchange ratio of 1.30 shares of BridgeBio common stock for each share of Eidos Therapeutics common stock. A copy of the Proposal is included as Annex A to this news release.
In response to the Proposal, the Company announced that its board of directors has formed a special committee consisting of the disinterested and independent directors, Rajeev Shah and William Lis, to consider the Proposal. The special committee has retained Centerview Partners LLC as its independent financial advisor and Cravath, Swaine & Moore LLP as its independent legal advisor to assist it in considering the Proposal.
The board of directors noted that it has only recently received the Proposal and that no decisions have been made with respect to the Company’s response to the proposed transaction. The special committee intends to carefully consider the Proposal with the assistance of its outside financial and legal advisors. There can be no assurance that any definitive agreement will be executed, or that the proposed transaction or any other transaction will be approved or consummated. The Company does not intend to comment on or disclose further developments regarding the special committee’s consideration of the Proposal unless and until it deems further disclosure is appropriate or required.
The Company’s stockholders are advised to take no action at this time.
Eidos Therapeutics, Inc. is a clinical stage biopharmaceutical company focused on addressing the large and growing unmet need in diseases caused by transthyretin (TTR) amyloidosis (ATTR). Eidos is developing AG10, a potentially disease-modifying therapy for the treatment of ATTR.
Source: Company Press Release