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RegMedInvestors (RMi):Sage Therapeutics (SAGE) has unanimously rejected Biogen’s (BIIB) $469 M offer

January 27, 2025 11:01am

Breaking: SAGE board has unanimously rejected Biogen’s (BIIB) $469 M offer, stating it "significantly undervalues" the company and does not serve shareholders' best interests. BIIB, which currently holds a 10.2% stake in Sage, proposed to acquire all outstanding Sage shares it does not already own for $7.22 per share. SAGE also announced it has initiated a process to explore strategic alternatives but has not set a timeline for the review.

SAGE confirmed (2/10/25) that Biogen (BIIB) has submitted an unsolicited, nonbinding proposal to acquire all of the outstanding shares of SAGE not already owned by BIIB for $7.22 per share.

SAGE is trading (Monday, 1/27/25) up +$0.39 or -5.42% at $7.49

Consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, the Sage Board of Directors will carefully review and evaluate the proposal made by Biogen to determine the course of action that it believes is in the best interest of the Company and all Sage shareholders.

No Shareholder Action Required at This Time

There is no guarantee that any transaction will result from Biogen’s proposal.

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