Microsoft Corp MSFT:NASDAQ

Last Price$256.61Cboe Real-Time Last Sale as of 12:35PM ET 7/01/22
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Today's Change-0.22(0.09%)
Bid (Size)$256.57 (100)
Ask (Size)$256.61 (50)
Day Low / High$254.61 - 258.97
Volume8.7 M

Zymeworks Board Rejects All Blue Falcons Takeover Bid for $10.50 Per Share

9:55AM ET 5/20/2022 MT Newswires
Zymeworks (ZYME) said Friday the board has rejected shareholder All Blue Falcons' unsolicited offer of $10.50 per share because it undervalues the company and isn't in the best interest of shareholders.

All Blue, which owns a 5.9% stake in Zymeworks, in April sent a non-binding acquisition offer after its financing proposal was rejected by the board and then expressed concern about the company's subsequent capital raise.

The board has determined that it would not be appropriate to enter into discussions in response to the current proposal, Zymeworks said.

Zymeworks shares were up 0.7% in recent morning trading Friday.