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Astellas shells out $379M for Massachusetts' Ocata Therapeutics

Nov 10, 2015 - The Deal Pipeline
Mergers and Acquisitions

Tokyo-based Astellas Pharma Inc. announced after the close on Monday that it would purchase regenerative medicine company Ocata Therapeutics Inc. (OCT) for approximately $379 million in cash.

The terms of the agreement call for Astellas to acquire Ocata through Laurel Acquisition Inc., a subsidiary of Astellas US Holding Inc. To facilitate the deal, Laurel will undertake a tender offer for outstanding shares of Ocata for $8.50 per share in cash. The price represents a 79% premium to Oc...