- Stealth BioTherapeutics Corp (NASDAQ:MITO) will be acquired by a consortium of investors led by Morningside Venture (I) Investments Ltd and J. Wood Capital Advisors LLC in an all-cash transaction.
- Each Stealth Bio will be canceled and cease to exist for the right to receive $0.03125 in cash. Each American Depositary Share representing 12 shares will be canceled for the right to receive $0.375.
- Related: Stealth Bio Shares Trading Higher On Pre-Clinical Presentation Of Neuromuscular Disease Candidate.
- The merger consideration represents a premium of 34.4% to the closing price on June 24, the last trading day before the company announced its receipt of the original “going-private” proposal.
- The merger is expected to close during the second half of 2022.
- Price Action: MITO shares are up 19.6% at $0.29 during the market session on the last check Monday.
Cleveland-Cliffs Earlier Proposed to Acquire U.S. Steel For $17.50/Share In Cash Plus 1.023 Shares Of Cleveland Cliffs Stock, Valuing Deal At $35/Share
Cleveland-Cliffs Inc. (NYSE:CLF) ("Cleveland-Cliffs" or "Cliffs") is publicly announcing a previously private offer that it had presented to the Board of the United States Steel Corporation (NYSE:X)
