Key facts
- Zydus Lifesciences has completed the acquisition of Assertio Holdings for $166.4 million.
- The acquisition was carried out through Zydus' wholly-owned subsidiary, Zara Merger Sub Inc.
- Assertio Holdings is now a wholly-owned subsidiary of Zydus Lifesciences.
- Assertio's shares are no longer traded on the Nasdaq Global Market.
Zydus Lifesciences Ltd announced on Tuesday that it has successfully completed the acquisition of US-based pharmaceutical company Assertio Holdings Inc for $166.4 million. The transaction was executed through Zydus' wholly-owned subsidiary, Zara Merger Sub Inc, which made a cash tender offer for all outstanding shares of Assertio's common stock.
Assertio Holdings now operates as a wholly-owned subsidiary of Zydus Lifesciences. Consequently, Assertio's common stocks are no longer listed or traded on the Nasdaq Global Market.
In May, Zydus Lifesciences had initially announced its intention to acquire Assertio Holdings for a total consideration of $166.4 million, equivalent to over Rs 1,590 crore. The definitive agreement, signed by Zydus Worldwide DMCC through its acquisition arm Zara Merger Sub Inc, stipulated a cash price of $23.50 per share for all outstanding Assertio shares.