Market Overview

Accorda Therapeutics Announces Final Results Of Tender Offer On Biotie Therapies


Acorda Therapeutics Inc (NASDAQ: ACOR) said it has commenced a voluntary public tender offer to buy back the outstanding shares and other instruments of Biotie Therapies Corp (ADR) (NASDAQ: BITI). That included like share rights or warrants or equity interests. According to the company, the tender offer expired on April 8.

Accorda Therapeutics also released the final results of its tender offer. Accordingly, the company received 656.48 million shares, 3.12 million ADS, 435,000 option rights of the year 2011, 4.28 million option rights of the year 2014, and 12.4 million option rights of the year 2016. In all, the company indicated the surrendered shares represented 93.77 percent of the shares in Biotie.

The company said that shares and ADS tender represented about 92.38 percent of all the shares and votes in Biotie. Accorda said that to enable the Biotie shareholders, who have not tendered their shares earlier, would be given one more opportunity to submit their shares before April 28.

On Wednesday, shares of the company traded down up 0.07 percent.


Related Articles (ACOR + BITI)

View Comments and Join the Discussion!

Posted-In: Biotech News Buybacks Small Cap Press Releases General