XOMA Royalty Corporation (XOMA) and Turnstone Biologics Corp. (TSBX) Friday said that they have entered into an agreement to acquire Turnstone by XOMA Royalty for $0.34 per share in cash plus one non-transferable contingent value right (CVR).
As per the deal, XOMA Royalty will commence a tender offer to acquire all outstanding shares of Turnstone by July 11, 2025. Remaining shares not tendered in the offer, other than shares validly subject to appraisal, will be converted into the right to receive the same cash and CVR consideration per share as provided in the tender offer.
Turnstone stock holders holding about 25.2% of shares have signed agreement to tender their shares in the offer. The deal is expected to close in August 2025.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.