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News  ›  Benzinga

Avadel Board of Directors Declares Lundbeck Proposal a "Company Superior Proposal"

Benzinga Logo Benzinga By Globe Newswire
Avadel Board of Directors Declares Lundbeck Proposal a

Avadel Pharmaceuticals received an unsolicited acquisition proposal from Lundbeck valuing the company at up to $23.00 per share, which the board has deemed a 'Company Superior Proposal' to the existing Alkermes transaction agreement.

Insights
AVDL   positive

Received a higher-value acquisition proposal at a 29% premium to previous closing price, potentially benefiting shareholders