Novartis announces commencement of tender offer to acquire Regulus Therapeutics

Core Viewpoint - Novartis has initiated a tender offer to acquire all outstanding shares of Regulus Therapeutics for $7.00 in cash per share, plus a contingent value right (CVR) that could provide an additional $7.00 upon achieving a regulatory milestone [1][3]. Group 1: Offer Details - The tender offer is set to expire on June 24, 2025, unless extended or terminated [2]. - The offer includes customary conditions such as regulatory approvals and the tendering of a majority of shares [4]. - The offer is not subject to a financing condition, indicating that Novartis has the necessary funds to complete the acquisition [4]. Group 2: Regulatory Filings - Novartis filed a tender offer statement with the SEC, detailing the terms and conditions of the offer [3]. - Regulus has also filed a recommendation statement with the SEC, advising its shareholders to accept the offer [3]. Group 3: Transaction Management - Innisfree M&A Incorporated is acting as the information agent for the offer, while Computershare Trust Company, N.A. serves as the depositary and paying agent [5].