Ironwood and VectivBio announce completion of tender offer for VectivBio shares

2 minute read
29 June 2023

On June 29, 2023, Ironwood Pharmaceuticals, Inc. ("Ironwood") (Nasdaq: IRWD) and VectivBio Holding AG ("VectivBio") (Nasdaq: VECT) announced the successful completion of Ironwood's tender offer to purchase the outstanding ordinary shares of VectivBio for $17.00 per share in cash.

As previously announced, Ironwood intends to cause VectivBio to voluntarily delist its shares from Nasdaq and intends to effect a squeeze-out merger under Swiss law to acquire all remaining outstanding shares.

Ironwood, an S&P SmallCap 600® company headquartered in Boston, Massachusetts, is a leading gastrointestinal healthcare company.

VectivBio is a global clinical-stage biotechnology company focused on transforming and improving the lives of patients with severe rare conditions.

Gowling WLG was Canadian counsel to VectivBio Holding AG and its Canadian subsidiary in this transaction with a team that included Lorne Segal (corporate); Carole Chouinard (tax); Larisa Albu, Julie Djiezion, Valerie Di Lena and paralegal Chloé Deschênes (financing); and Matthew Finn (IP).

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