Sun Pharmaceutical Industries will acquire US-based Concert Pharmaceuticals for US$576 million to enable research in the treatment for an autoimmune condition alopecia areata, which causes patchy hair loss.
The US firm declared that they had signed a legally binding agreement under which Sun Pharma would tender all of its Concert stock for an upfront cash payment of US$8 per share of common stock, or US$576 million in equity value. Sun Pharma would then purchase all of Concert's outstanding shares through a tender offer.
