Future Pak LLC, a private company specializing in the manufacturing and packaging of pharmaceutical and nutraceutical products, confirmed its latest bid to take over Vanda Pharmaceuticals, Inc. (VNDA) on Wednesday. The offer is set at $7.25 to $7.75 per share, payable in cash.
Since February, Future Pak has made three acquisition proposals to Vanda. The current offer represents a premium of 79 percent to 91.4 percent on Vanda's closing stock price of $4.05 on April 16.
Moreover, Future Pak has shown willingness to consider other methods to enhance its offer, potentially providing Vanda with additional benefits beyond the stated cash payment.
As of yet, Vanda has not responded to Future Pak's efforts to initiate productive discussions.
In pre-market trading on the Nasdaq, VNDA's stock price increased by 28.67 percent to $5.19.
