Eli Lilly extends tender offer to acquire Point Biopharma for $12.50 per share

Eli Lilly (LLY) is extending the expiration of the tender offer to acquire all of the issued and outstanding shares of common stock of Point Biopharma (PNT), for a purchase price of $12.50 per share in cash, without interest and less any applicable tax withholding. The tender offer has been extended until 5:00 p.m., Eastern time, on Nov. 16, unless the tender offer is further extended or earlier terminated, in order for the parties to satisfy outstanding closing conditions. The proposed acquisition is expected to close near the end of 2023, subject to customary closing conditions, including the tender of at least a majority of the outstanding Shares as of the expiration of the tender offer.