Servier, a France-based global pharmaceutical group, has agreed to acquire Day one Biopharmaceuticals, Inc. (DAWN) for $21.50 per share in cash, valuing the company at approximately $2.5 billion. The deal is designed to expand Servier's rare oncology portfolio, particularly in pediatric cancers, an area where Day One has built its scientific and clinical focus.
Day One develops targeted cancer therapies for patients of all ages, with a lead program in pediatric low-grade glioma, a rare childhood brain tumor with limited treatment options. Servier said the acquisition strengthens its pipeline across both pediatric and adult oncology and aligns with its long-term strategy to grow in rare cancers.
Under the agreement, Servier will launch a tender offer to purchase all outstanding Day One shares at the agreed price, representing a 68% premium to Day One's closing share price on March 5, 2026, and an 86% premium to its one-month volume-weighted average price. The transaction will be funded entirely through Servier's existing cash and investments.
The deal is expected to close in the second quarter of 2026, pending customary conditions, including the tender of a majority of Day One's shares and U.S antitrust clearance. Any remaining shares will be acquired through a follow-on merger at the same price.
Day One's board has unanimously recommended that shareholders tender their shares once the offer begins.
Servier said the acquisition reinforces its commitment to developing innovative treatments for patients with high unmet needs, while Day One's leadership noted that Servier's global reach and experience in rare cancers will help advance their programs to more patients worldwide.
DAWN has traded between $5.64 and $21.20 over the past year. The stock is currently trading at $21.17, up 65.69%.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.