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Dimension board says Ultragenyx bid could be "superior" to REGENXBIO offer, discussions to proceed; shares slip 4% premarket

Published 09/19/2017, 08:24 AM
© Reuters.  Dimension board says Ultragenyx bid could be "superior" to REGENXBIO offer, discussions to proceed; shares slip 4% premarket
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  • The board of Dimension Therapeutics (NASDAQ:DMTX) has determined that Ultragenyx Pharmaceutical's (NASDAQ:RARE) unsolicited cash bid of $5.50 per share could reasonably be expected to lead to a "superior proposal" under the terms of its merger agreement with REGENXBIO (NASDAQ:RGNX). As such, discussions will proceed with Ultragenyx. Dimension says it will not comment further until the negotiations have been completed.
  • DMTX shares are down 4% premarket after Citigroup (NYSE:C) issued a Sell rating citing a low probability of another bid topping RARE's. Shares closed yesterday at $5.90.
  • Previously: Ultragenyx makes $138M cash offer for Dimension Therapeutics, trumps REGENXBIO's all-stock deal (Sept. 18)
  • Previously: REGENXBIO to acquire Dimension Therapeutics in all-stock deal, Dimension up 163% premarket (Aug. 25)
  • Now read: RARE Disease Concern Appears Undervalued


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