Revance Therapeutics Gains On $3.60/share Acquisition Offer From Teoxane

Deal News | Jan 06, 2025 | EIN

Revance Therapeutics Gains On $3.60/share Acquisition Offer From Teoxane

Revance Therapeutics, a biotechnology company, has received a proposal from Teoxane SA, a Geneva-based firm in the medical aesthetics sector, to acquire the company for $3.60 per share in cash. This offer represents a 16% premium over the price in Revance's amended merger agreement with Crown Laboratories, Inc. Teoxane already owns a 6.2% stake in Revance and is in the process of securing financing for the deal. On the announcement of the proposal, Revance's share price rose by 16.02% to $3.58 on high trading volume.

Sectors

  • Biotechnology
  • Medical Aesthetics

Geography

  • Switzerland – Teoxane SA is based in Geneva, Switzerland, indicating the geographical origin of the acquiring company.
  • United States – Revance Therapeutics, the target company, is based in the United States, reflecting its operational market and business base.

Industry

  • Biotechnology – Revance Therapeutics operates in the biotechnology industry, focusing on medical aesthetics.
  • Medical Aesthetics – Teoxane SA operates in the medical aesthetics sector, which relates to the aesthetic and beauty industry, potentially involving products like dermal fillers and other cosmetic treatments.

Financials

  • 3.60 – Per share offer price by Teoxane SA to acquire Revance Therapeutics.
  • 6.2 – Percentage stake currently held by Teoxane SA in Revance Therapeutics.
  • 16 – Percentage premium of the offer over Revance's previous merger agreement with Crown Laboratories.

Participants

NameRoleTypeDescription
Revance Therapeutics, Inc.Target CompanyCompanyRevance Therapeutics is a biotechnology company involved in developing medical aesthetic products.
Teoxane SABidding CompanyCompanyTeoxane SA is a Geneva-based company in the medical aesthetics sector proposing to acquire Revance Therapeutics.
Crown Laboratories, Inc.Other CompanyCompanyCrown Laboratories had an amended and restated merger agreement with Revance Therapeutics, which has been surpassed by Teoxane's offer.