Eli Lilli LLY has announced a takeover Akouos AKUS which is expected to be completed in the fourth quarter of 2022.
Under the terms of the agreement, Eli Lilly has agreed to give Akouos $610.00 million in cash in exchange for AKUS stock.
About the companies involved
Eli Lilly is a pharmaceutical company focused on neuroscience, endocrinology, cancer and immunology. Lilly’s key products include Verzenio for cancer; Jardiance, Trulicity, Humalog and Humulin for diabetes; and Taltz and Olumiant for immunology.
Akouos Inc is a gene medicine company focused on developing gene therapies that restore, improve and preserve hearing. The Company is involved in the development of potential genetic drugs for a variety of inner ear disorders.
How an acquisition works
An acquisition occurs when a company, referred to as the acquiring company, buys most or all of the stock of another company or target company to acquire ownership. Buying more than 50% of a company’s stock allows the acquirer to make decisions without the consent of the company’s shareholders.
An acquisition can potentially result in a merger with the parent company, which is similar to a merger. For this reason, the two terms are commonly grouped together as mergers and acquisitions (M&A). However, a merger typically involves dramatic changes in leadership and operations of both companies, while an acquisition is less likely to do so.
Make sure, that follow our Mergers & Acquisitions calendar to keep up to date with the latest M&A deals.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
