Jazz Pharma Enters Into Agreement To Acquire Gentium For $57.00 Per Share

(RTTNews) - Jazz Pharmaceuticals plc (JAZZ) and Gentium S.p.A. (GENT) announced that they have entered into a definitive agreement pursuant to which a subsidiary of Jazz Pharmaceuticals will make a cash tender offer of $57.00 per share for all outstanding Gentium ordinary shares and American Depositary Shares, in a transaction that is valued at about $1 billion.

Gentium is a biopharmaceutical company focused on the development and manufacturing of therapies to treat and prevent a variety of rare diseases and conditions that currently have few or no treatment options, including orphan vascular diseases related to cancer treatments.

Jazz Pharmaceuticals said it expects to finance the transaction with a combination of cash on hand, the proceeds from an incremental term loan and revolver borrowings under its existing senior secured credit facility.