January 27, 2020 / 12:14 PM / a month ago

Sorrento Therapeutics rejects near $1 billion offer

Jan 27 (Reuters) - Sorrento Therapeutics Inc said on Monday it had rejected a proposal by a private equity fund for a majority or all of its outstanding shares that had valued the drug developer at as much as $993 million.

The company said the proposal of up to $7 per share received earlier this month undervalued it and was not in the best interest of its shareholders.

Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Arun Koyyur

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below