BRIEF-Sunovion Pharmaceuticals to acquire Cynapsus Therapeutics

Wed Aug 31, 2016 5:20pm EDT
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Aug 31 (Reuters) - Cynapsus Therapeutics Inc

* Sunovion Pharmaceuticals to acquire Cynapsus Therapeutics

* Deal values Cynapsus at about US$624 million (or about CAN$820 million)

* Acquisition will be funded with cash on hand

* Cynapsus will receive US$40.50 per common share in cash

* Holders of co's warrants,stock options to get cash payment equal to difference between US$40.50,exercise price of such warrant or stock option

* BofA Merrill Lynch serves as financial advisor to Cynapsus

* Nomura Securities International, Inc. serves as exclusive financial advisor to Sunovion

* Sunovion would acquire Cynapsus' product candidate, APL-130277 Source text for Eikon: Further company coverage: