12:00 AM
Apr 07, 2003
 |  BioCentury  |  Finance

Merlin spinning plates

Venture capitalists generally use the public equity markets as exits for their private companies. But valuations have been so beaten down that buying public companies and taking them private may have its appeal. That, at least, is what Merlin Bioscience proposes to do with neural stem cell company ReNeuron Holdings plc.

Merlin offered to acquire ReNeuron (LSE:REN, London, U.K.) for £3.6 million ($5.7 million). The deal values REN at 10p per share, a 90% premium to the company's close at 5.25p on March 31, the day before the offer was announced. The deal will be done through a newly...

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