By Hasnain R
2:09 AM UTC
Aimmune Therapeutics, Inc. [NASDAQ: AIMT] disclosed today it has signed a definitive agreement with a wholly-owned subsidiary of Nestle S.A, Sociétés des Produits Nestlé S.A. Sociétés des Produits Nestlé S.A to purchase Aimmune for $34.50 per share in an all-cash transaction representing the total equity value of $2.6 billion, as per the agreement.
All the members of the board of directors of Aimmune were agreed to the agreement. Through this acquisition, both the firms will be able to create a world leader in food allergy prevention and treatment. Aimmune Therapeutics and Nestle S.A both aimed to change the lives of people around the world living with food allergies.
Aimmune Therapeutic traded up 171.03% at $34.15 during the pre-market trading session after its agreement with Nestle S.A. AIMT had a trading volume of 1.89 million as compared to the average volume of 1.11 million.
It has earlier closed at $12.60 and up 5.09% during its last trading session of Friday. It has recorded the day low range of $11.82 and a day high range of $12.68.
In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $10.09 and a high of $37.00. Aimmune moved up 24.88% and moved down -65.95% from its 52-weeks low and high. Focusing on its profitability, its return on assets (ROA) is -92.70%, and return on equity (ROE) is -170.90%.
Turing our focus on its liquidity, it has a current ratio of 7.50 and its quick ratio is 7.40. Aimmune Therapeutics has a total market capitalization of 784.73 million. It has reported the sales of 0.60 million.
Until the completion of the transaction, Aimmune will work as an independent firm. Looking at the transaction details, Nestle S.A will start a tender offer to buy all the outstanding shares of AIMT. After the completion of the tender offer, Nestle will start the merger of Aimmune with a subsidiary of SPN.
PALFORZIA of Aimmune is the first official treatment for peanut allergy. Palforiza is the first health product which has significant sale potential. The deal between Aimmune and SPN is anticipated to conclude in the fourth quarter of 2020.