PDL Reconfirms $10.25/shr Proposal For Neos - Quick Facts

(RTTNews) - PDL BioPharma, Inc. (PDLI) announced it has submitted a proposal to acquire Neos Therapeutics, Inc. (NEOS) for $10.25 per share in cash. PDL BioPharma believes the acquisition would create an attractive pediatric platform and foundation for future growth.

PDL first approached the Neos Board in early June of 2017 in an effort to privately negotiate a mutually beneficial transaction. On June 23, 2017, PDL formally proposed to acquire Neos for $10.25 per share, a proposal the Neos Board promptly rejected.

PDL currently owns common stock of Neos amounting to less than 5% of Neos' outstanding shares. The company noted that, if Neos is unable to complete this transaction, PDL reserves the right to sell any and all of these shares at any time.