Telix agrees to $1.65 billion ITM merger with additional milestone payments
Telix Pharmaceuticals ($TLX) signed an agreement to combine with ITM Isotope Technologies Munich for upfront consideration of $1.65 billion on a cash-free, debt-free basis. After adjustments, ITM shareholders are expected to receive approximately $1.25 billion in Telix shares. Additional consideration of up to $700 million depends on specified regulatory approvals and sales milestones for ITM-11, rather than being payable automatically. The combination would add isotope production, manufacturing
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