Lundbeck acquires SNAP for $121M

Lundbeck (CSE:LUN) will acquire CNS GPCR discovery specialist Synaptic (SNAP) for $121 million in cash. The deal values SNAP at $6.50 per share, which is an 8% premium to Wednesday's close at $6. LUN said SNAP's CNS projects are in its main therapeutic areas of depression, anxiety and psychosis, and SNAP will provide a foundation for growing its U.S. business. Warburg Pincus, which holds a 35% stake in SNAP, has agreed to the deal. ...