GSK (GSK) said Wednesday its Harmony Row Acquisition unit commenced a tender offer to purchase all outstanding Class A and Class B shares of Nuvalent (NUVL) for $124 per share in cash.
Following the consummation of the offer, the unit will merge into Nuvalent, which will continue as a direct wholly-owned subsidiary of GlaxoSmithKline LLC.
Nuvalent's board of directors recommended that stockholders accept the offer and tender their shares, GSK said.
The tender offer and withdrawal rights will expire on July 14, the company added.
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