Business
Assertio to Be Acquired by Zydus Worldwide DMCC for $23.50 Per Share in Cash
LAKE FOREST, Ill., May 13, 2026--Assertio Holdings, Inc. (Nasdaq: ASRT) ("Assertio" or the "Company") today announced that, following an engagement process outlined under the revised merger agreement (the "Garda Merger Agreement") with Garda Therapeutics, Inc. ("Garda"), the Company’s Board of Directors (the "Board") approved a definitive agreement with Zydus Worldwide DMCC, a subsidiary of Zydus Lifesciences Limited ("Zydus") to acquire all outstanding shares of Assertio common stock for $23.50
About this update from Assertio Holdings, Inc.
[{"type":"text","content":"All-Cash Tender Offer of $23.50 per share or $166.4 Million","length":59,"tagName":"p","attribs":{}},{"type":"text","content":"Offer Represents 30.6% Premium to Original Agreement with Garda Therapeutics AND 75.8% Premium to Unaffected Price","length":114,"tagName":"p","attribs":{}},{"type":"text","content":"LAKE FOREST, Ill., May 13, 2026--(BUSINESS WIRE)--Assertio Holdings, Inc. (Nasdaq: ASRT) ("Assertio" or the "Company") today announced that, following an engagement process outlined under the revised merger agreement (the "Garda Merger Agreement") with Garda Therapeutics, Inc. ("Garda"), the Company’s Board of Directors (the "Board") approved a definitive agreement with Zydus Worldwide DMCC, a subsidiary of Zydus Lifesciences Limited ("Zydus") to acquire all outstanding shares of Assertio common stock for $23.50 per share in cash, representing total consideration of approximately $166.4 million (the "Zydus Offer"). The Board determined that the Zydus Offer constituted a "Superior Proposal" under the Garda Merger Agreement and authorized the Company to terminate the Garda agreement announced on May 4, 2026 and enter into the transaction with Zydus (the "Zydus Transaction").","length":975,"tagName":"p"},{"type":"text","content":"The Zydus Offer of $23.50 per share in cash represents a 30.6% premium to the $18.00 per share all-cash transaction with Garda announced on April 8, 2026, a 7.8% premium to the $21.80 per share all-cash transaction with Garda announced on May 4, 2026, and a 75.8% premium to the Company’s unaffected closing stock price on March 20, 2026 – the day before significant share price and trading volume movement.","length":407,"tagName":"p"},{"type":"text","content":"In making its determination that the Zydus Offer represented a Superior Proposal, the Board considered Zydus’ strong execution profile, including that the Zydus Offer has no financing contingencies, requires no third-party financing, and is fully guaranteed by a creditworthy Zydus entity, providing Assertio with direct recourse in the event of a breach or failure to close.","length":375,"tagName":"p"},{"type":"text","content":"Heather Mason, Chair of the Assertio Board of Directors, stated: "We are pleased that the comprehensive and disciplined strategic ...