Assertio Announces Garda Tender Offer Set for April 29 at $18 Per Share

Garda Therapeutics will launch its tender offer for Assertio Holdings shares on April 29, 2026, at $18 per share. This action follows Assertio's prior agreement to be acquired for $125.1 million cash, plus a contingent value right, and concludes a 20-day window-shop period.

Assertio Holdings, a specialty pharmaceutical company, is progressing toward its acquisition by Garda Therapeutics. The two firms reached a definitive agreement on April 8, establishing the terms of this significant transaction. This development moves the deal into its final stages, focusing on shareholder action.

Garda Therapeutics intends to initiate its tender offer to purchase all outstanding shares of Assertio on April 29, 2026. This precise date follows the expiration of a 20-day window-shop period, as outlined in the merger agreement. Under the terms of the April 8 agreement, Garda will acquire Assertio for $18 per share, representing a total cash consideration of approximately $125.1 million, alongside a contingent value right.

The window-shop provision was a key element of the initial merger agreement. This clause allowed Assertio to actively solicit and evaluate alternative acquisition proposals from other interested parties. It provided a specific timeframe for Assertio to potentially secure a more advantageous offer for its shareholders.

The upcoming tender offer represents a critical procedural step in finalizing the acquisition. Assertio shareholders will now be presented with the opportunity to tender their shares directly to Garda at the agreed $18 per share price. This valuation was established in the definitive merger agreement.

The conclusion of the stipulated window-shop period suggests that Assertio either did not receive a superior offer or determined not to pursue any alternative proposals. This development removes a significant contingency, clearing the path for Garda to proceed with its acquisition plan. Investors should now monitor the tender offer's progression and shareholder participation rates as the transaction moves towards its completion.