Deciphera Pharmaceuticals Announces $2.4 Billion Acquisition by ONO Pharmaceutical Co., Ltd

Deciphera Pharmaceuticals, a biopharmaceutical company, has agreed to a merger with ONO Pharmaceutical Co., Ltd., under which ONO will acquire all outstanding shares of Deciphera common stock for $25.60 per share in cash through a tender offer followed by a merger of Deciphera with a wholly-owned subsidiary of ONO, for a total equity value of $2.4 billion.

The merger, approved by both companies' boards of directors, aims to create a global presence in the oncology sector and support ONO’s endeavor to become a Global Specialty Pharma company. The acquisition is expected to enable ONO to strengthen its business in the United States and Europe. 

The purchase price represents a premium of 74.7% to Deciphera’s closing share price on April 26, 2024. The Acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions, including U.S. antitrust clearance and the tender of a majority of Deciphera’s outstanding shares of common stock. Upon completion of the Acquisition, Deciphera will operate as a standalone business of ONO Group, from its headquarters in Waltham, Massachusetts.

Deciphera Pharmaceuticals is a biopharmaceutical company focused on discovering, developing, and commercializing new medicines to improve the lives of people with cancer. The company is leveraging its proprietary switch-control kinase inhibitor platform and deep expertise in kinase biology to develop a broad portfolio of innovative medicines. The acquisition will expand ONO's target oncology portfolio and accelerate ONO's business development in the United States and Europe.

Read here for the full press release.