Novartis Announces $48 per Share Tender Offer to Acquire Tourmaline Bio

Novartis announced on September 9 that it has reached an agreement to acquire biopharmaceutical company Tourmaline Bio, Inc. According to the terms of the deal, Novartis will initiate a tender offer through its indirectly wholly-owned subsidiary to purchase all outstanding common shares of Tourmaline. Upon completion of the transaction, shareholders of Tourmaline’s common stock will receive $48 in cash per share. Following the completion of the tender offer, Novartis plans to merge the acquisition subsidiary with Tourmaline, making Tourmaline an indirectly wholly-owned subsidiary of Novartis.