Akcea Therapeutics, Inc.
Merger
Overview
- Date:
- 8/31/2020
- Company Name:
- Akcea Therapeutics, Inc.
- Stock Symbol:
- AKCA
- Company Name - Buyer:
- Ionis Pharmaceuticals, Inc.
- Stock Symbol - Buyer:
- IONS
- Status:
- Pending
- Merger Announcement Date:
- 8/31/2020
NEW YORK, August 31, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Akcea Therapeutics, Inc. (NASDAQ: AKCA) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Ionis Pharmaceuticals, Inc. (NASDAQ: IONS).
On August 31, 2020, Akcea announced that it had signed an agreement to be acquired by Ionis for approximately $500 million. Pursuant to the merger agreement, Akcea stockholders will receive $18.15 in cash for each share of Akcea common stock owned. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that Akcea’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Indeed, Akcea stock has recently traded above the $18.15 merger consideration. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Akcea’s stockholders.