Fusion Pharmaceuticals receives final court order approving AstraZeneca deal

Fusion Pharmaceuticals (FUSN) announced it has obtained a final order from the Ontario Superior Court of Justice approving the previously announced statutory plan of arrangement under Section 192 of the Canada Business Corporations Act, pursuant to which a wholly-owned subsidiary of AstraZeneca (AZN) will acquire all issued and outstanding shares of Fusion. Fusion shareholders will receive $21.00 per share in cash upfront on completion of the Arrangement plus a deferred payment on the achievement of a future regulatory milestone in the form of a contingent value right of $3.00 per share. As previously announced, Fusion’s shareholders approved the Arrangement at a special meeting of Fusion’s shareholders on May 29, 2024. The Arrangement is subject to customary closing conditions. Subject to the satisfaction of such conditions, the transaction is expected to be completed in the second quarter of 2024. Following closing of the Arrangement, Fusion’s common shares will be delisted from Nasdaq.