On September 17, 2025, 89bio, Inc. announced it has entered into a definitive merger agreement to be acquired by Roche. Under the terms of the agreement, 89bio stockholders will receive $14.50 per share in cash at closing, representing an aggregate payment of $2.4 billion.
In addition to the upfront cash, shareholders will receive a non-tradeable contingent value right (CVR) for up to an aggregate of $6.00 per share in cash upon the achievement of specified milestones. This brings the total transaction equity value to up to approximately $3.5 billion on a fully diluted basis.
The cash portion of the offer represents a premium of approximately 79% to 89bio’s closing stock price on September 17, 2025, and a 52% premium to its 60-day volume-weighted average price. The acquisition is expected to close in the fourth quarter of 2025, subject to customary closing conditions, and aims to combine pegozafermin's potential with Roche's global capabilities.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.