ARTICLE | Deals
GSK outlasted multiple suitors for Sierra, sweetened bid to $1.9B
SEC filing shows how Sierra’s partnering discussions with GlaxoSmithKline escalated to a 10-figure takeout, with other biopharmas in talks
May 3, 2022 10:44 PM UTC
As talks progressed from a territorial partnership with GSK to last month’s $1.9 billion acquisition, Sierra entertained discussions with several other suitors, with one undisclosed party entering a losing bid before withdrawing from the process.
In a regulatory filing on Monday, Sierra Oncology Inc. (NASDAQ:SRRA) disclosed that GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) entered two prior bids during the run-up to its $55-per-share takeout, announced April 13...