- Reunion Neuroscience Inc. (NASDAQ:REUN) shares are trading lower on Friday after inking a take-private deal with MPM BioImpact, where MPM would acquire Reunion for $13.1 million under the Canadian Business Corporations Act.
- Per the terms of the agreement, Reunion will receive $1.12 in cash for each share held in the company.
- In the last weeks of December 2022, the company struggled to remain NASDAQ listed as the bid price of the company was below $1.00.
- Based on the Bank of Canada’s daily exchange rate as of the close of business on May 31, 2023, this would be approximately $1.52 per share in Canadian dollars.
- The deal represents a premium of approximately 43.1% over the trailing 30-trading-day volume weighted average price.
- The partners expect to close the arrangement in the third quarter of 2023.
- Price Action: REUN shares are trading higher by 1.46% to $1.09 on the last check Friday.
Deutsche Bank Maintains Buy on Kronos Worldwide, Lowers Price Target to $12
Deutsche Bank analyst David Begleiter maintains Kronos Worldwide (NYSE:KRO) with a Buy and lowers the price target from $18 to $12.
