Jazz Pharmaceuticals to acquire Chimerix for $8.55 per share in cash, or $935M

Jazz Pharmaceuticals (JAZZ) and Chimerix (CMRX) announced the companies have entered into a definitive agreement for Jazz to acquire Chimerix for $8.55 per share in cash, representing a total consideration of approximately $935M. The transaction has been approved by both companies and is expected to close in the second quarter of 2025. Upon the successful completion of the tender offer, Jazz will acquire all shares not acquired in the tender through a second-step merger for the same consideration per share paid in the tender offer. Jazz expects to fund the transaction through existing cash and investments. The transaction is subject to customary closing conditions, including the tender of a majority of the outstanding shares of Chimerix’s voting common stock and other conditions. Chimerix’s Board of Directors unanimously recommends that Chimerix shareholders tender their shares in the tender offer.