India, April 30 -- Regulus Therapeutics (RGLS) has entered into an agreement and plan of merger with Novartis AG and an indirectly wholly owned subsidiary of Novartis, pursuant to which Novartis will acquire Regulus for an initial payment of $7.00 per share in cash at closing, or $0.8 billion. Also, Regulus shareholders will receive a contingent value right providing for payment of $7.00 per share, contingent upon the achievement of a milestone with respect to regulatory approval of Regulus' lead product candidate, farabursen. Total consideration including the CVR, if the milestone is achieved, would be approximately $1.7 billion.
Upon the successful completion of the tender offer, a subsidiary of Novartis will be merged with and into Regu...