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Akcea Therapeutics, Inc. 

Merger

Overview

Overview

  • Date:
  • 8/31/20
  • Company Name:
  • Akcea Therapeutics, Inc.
  • Stock Symbol:
  • AKCA
  • Company Name - Buyer:
  • Ionis Pharmaceuticals, Inc.
  • Stock Symbol - Buyer:
  • IONS
  • Status:
  • Pending
  • Merger Announcement Date:
  • 8/31/20

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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.