Japan’s Ono Pharmaceutical to buy Deciphera for $2.4 billion

By Thomson Reuters Apr 29, 2024 | 6:08 AM

(Reuters) – Deciphera Pharmaceuticals said on Monday Japan’s Ono Pharmaceutical Co will acquire the cancer drug developer for $2.4 billion in cash.

Ono Pharma has offered $25.60 per share, a premium of 74.7% to the U.S. company’s last closing price of $14.65.

Premarket trading of Deciphera’s shares was currently halted.

The acquisition is expected to close in the third quarter of 2024, Deciphera said.

(Reporting by Leroy Leo in Bengaluru; Editing by Shinjini Ganguli)