US-based Acacia Research Corporation is set to acquire a portfolio of biotech holdings owned by Woodford Investment Management for $300m, according to reports.
The portfolio, which comprises assets in the stricken LF Equity Income fund (EIF), includes the likes of Theravance Biopharma, Oxford Nanopore and Rutherford Cancer Centres, according to Sky News. The deal could be finalised as soon as Wednesday (3 June), according to insiders, though it could still fall apart. Acacia is part-owned by US activist hedge fund Starboard Value. Its backer, or other outside investors, is likely to have to put up a large part of the cash, with Acacia's market capitalisation standing at $120m. Woodford fund suspension one year on: Liquidity mismatch remai...
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