MEI Pharma, Inc. today confirmed receipt of an unsolicited and non-binding proposal on May 23, 2023 from a group represented by Anson Advisors Inc. and Cable Car Capital LLC, as referenced in their 13-D filing of earlier today, to acquire all outstanding shares of MEI for not less than $8.00 in cash per share, plus a contingent value right representing the right to receive 80% of the net proceeds payable from any license or disposition of the Company’s clinical assets.

Consistent with its fiduciary duties, MEI’s Board, in consultation with its independent financial and legal advisors, is reviewing the proposal from Anson Advisors and Cable Car Capital and will respond in due course. The board will pursue the course of action it believes is in the best interest of all MEI shareholders. MEI’s shareholders are advised that no action is necessary at this time.

The recommendation by the MEI Board to proceed with the pending Infinity Pharmaceuticals, Inc. transaction remains unchanged.

 

Source:meipharma.com/

 

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