Deciphera announced that it has entered into a definitive merger agreement with ONO Pharmaceutical, under which ONO will acquire all outstanding shares of Deciphera common stock for $25.60 per share in cash through a tender offer followed by a merger of Deciphera with a wholly-owned subsidiary of ONO, for a total equity value of $2.4B. The boards of directors of both companies have unanimously approved the transaction. Together, ONO and Deciphera will accelerate their shared vision to deliver innovative new drugs and serve patients around the world. Deciphera brings specialized research and development capabilities in kinase drug discovery, well-established commercial and sales platforms in the United States and Europe, and global clinical development capabilities. In addition to Qinlock – Deciphera’s switch-control inhibitor for the treatment of fourth-line gastrointestinal stromal tumor, or GIST, which is approved in the United States and over 40 other countries, Deciphera also brings a potential medicines, including vimseltinib, DCC-3116 and multiple additional oncology candidates. The acquisition is structured as a tender offer and subsequent merger of Deciphera with a wholly-owned subsidiary of ONO. Under the terms of the definitive merger agreement, ONO will acquire all outstanding shares of Deciphera for $25.60 per share in cash for a total equity value of approximately $2.4B. The purchase price represents a premium of 74.7% to Deciphera’s closing share price of $14.65 on April 26 and a premium of 68.8% to Deciphera’s 30-trading-day volume weighted average price as of April 26. ONO will promptly commence the tender offer, and it will expire 20 business days after its commencement, unless otherwise extended. If the tender offer conditions are not satisfied, ONO may be required to extend the tender offer under certain circumstances. Upon the successful completion of the tender offer, ONO’s wholly-owned subsidiary will merge with and into Deciphera, with Deciphera continuing as the surviving corporation and a wholly-owned subsidiary of ONO, and any shares of common stock of Deciphera not tendered into the offer will receive the same USD per share price payable in the tender offer. The acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions, including U.S. antitrust clearance and the tender of a majority of Deciphera’s outstanding shares of common stock. In connection with the execution of the merger agreement, certain stockholders of the company owning approximately 28% of the outstanding shares of Deciphera Common Stock have entered into tender and support agreements pursuant to which they will tender all of their owned shares in the offer. Upon completion of the acquisition, Deciphera will operate as a standalone business of ONO Group, from its headquarters in Waltham, Massachusetts. In light of the acquisition, Deciphera will not host a first quarter 2024 earnings call.