Aegerion and QLT Agree to Strategic Merger

Aegerion and QLT Agree to Strategic Merger


Aegerion_Pharmaceuticals, Inc. (NASDAQ:AEGR) and QLT Inc. (NASDAQ:QLTI) both received a well needed bump in the share price, although Aegerion benefited most with a 28% pop while closing at $1.71, up $0.38 with nearly 13 Million shares traded. The two companies entered into a definitive merger agreement under which Aegerion will be merged with a wholly owned indirect subsidiary of QLT, each share of Aegerion common stock will be exchanged for 1.0256 shares of QLT common stock. The result will be a global biopharmaceutical organization with diverse portfolio of commercialized rare disease programs and a phase 3 ready ultra-orphan development program under the new corporate name of Novelion Therapeutics Inc. and its common shares will trade on the NASDAQ Global Select Market and the Toronto Stock Exchange. A broad based investor syndicate intends to vote in favor of the merger and provide a financing of approximately $22 Million.

Related posts