BioCentury
ARTICLE | Company News

Allergan Ligand, Ligand, Allergan deal

December 8, 1997 8:00 AM UTC

LGND completed its purchase of the 3.25 million shares outstanding of ALRI at $21.97 per share (see BioCentury Extra, Sept. 25). LGND paid $7.69 in cash and 0.97 shares of LGND stock per share of ALRI, with LGND shares priced at $14.65625 based on a 20-day average prior to Nov. 19 (the closing date of its purchase option). In total, LGND paid $25 million in cash and issued 3.2 million shares, valued at a total of $46.41 million. LGND has 36 million shares outstanding after the transaction. ...