ARTICLE | Deals
Under activist pressure, Radius chooses Patient Square-Gurnet Point takeout offer as best option
With some shareholders unhappy, months-long strategic assessment ends with take-private deal giving pair of firms disparate assets
June 23, 2022 9:10 PM UTC
Radius’ nine-month exploration of strategic alternatives has resulted in a deal to sell the company to private investment firms Gurnet Point and Patient Square at a per-share price less than half of the biotech’s value in fall 2021.
The deal comes amid a proxy battle in which activist shareholders Velan Capital Investment Management and Repertoire Partners had nominated a slate of new directors, citing a lack of confidence in a pipeline program Radius Health Inc. (NASDAQ:RDUS) has been positioning as a key to its future. An annual shareholder meeting was scheduled for July 8...