Jul. 27 at 12:33 PM
$FBRX $ARGX
Argenx to acquire Forte Biosciences for
$77 per share in cash
Argenx (ARGX) and Forte (FBRX) announced that the companies have entered into a definitive agreement under which Argenx will acquire Forte Biosciences for
$77 per share in cash, representing a total equity value of approximately
$2.2B. Under the terms of the merger agreement, Argenx, through a wholly owned subsidiary, will commence a cash tender offer to acquire all of the outstanding shares of Forte Biosciences' common stock at a price of
$77 per share, representing a total equity value of approximately
$2.2B and a premium of approximately 86% to Forte Biosciences' volume-weighted average price since reporting Phase 1b data in vitiligo on July 9. The consummation of the tender offer is subject to customary closing conditions, including the tender of at least a majority of the outstanding shares of Forte Biosciences, and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Following the successful completion of the tender offer, a wholly owned subsidiary of Argenx will merge with Forte Biosciences and the outstanding Forte Biosciences shares not tendered in the tender offer will be converted into the right to receive the same
$77 per share in cash paid in the tender offer. The transaction is not subject to a financing condition and will be funded entirely from cash on hand. The boards of directors of both companies have approved the transaction. The acquisition is expected to close in Q3 2026, subject to customary closing conditions.
