Ambit Biosciences Cvr Agreement

29, 2014 /PRNewswire/ — Daiichi Sankyo Company, Ltd (hereinafter Daiichi Sankyo) (EST: 4568) and Ambit Biosciences (NASDAQ: AMBI) announced today jointly, that they have entered into a final merger agreement under which Daiichi Sankyo will acquire all outstanding common shares of Ambit Biosciences for 15 $US per share in cash through a tender offer, followed by a merger with a subsidiary of Daiichi Sankyo or approximately US$315 million on a fully diluted basis. In addition to the cash deposit, each Ambit Biosciences shareholder receives a Contingent Value Right (CVR) that gives the holder an additional cash payment of up to $4.50 per share they own if certain steps are taken in connection with commercialization. .