Vanda Pharmaceuticals Inc. (VNDA) Tuesday confirmed that it has received a revised unsolicited proposal from Future Pak, LLC to acquire the company.
The revised proposal consists of a $7.25 to $7.75 per share in cash plus certain Contingent Value Rights. The amended proposal follows Vanda's review and rejection of a prior unsolicited proposal from Future Pak to acquire the company for $7.25-$7.75 per share.
Vanda said it will carefully review and evaluate the revised unsolicited proposal to determine the course of action that it believes is in the best interests of Vanda and its shareholders.
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