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ASRT

Assertio Terminates Garda Agreement, Agrees To $166.4 Mln Acquisition By Zydus Worldwide DMCC

May 13, 2026 — 08:25 am EDT

Written by

RTTNews.com for

RTTNews->

(RTTNews) - Assertio Holdings, Inc. (ASRT), on Wednesday, announced that Zydus Worldwide DMCC, a subsidiary of Zydus Lifesciences Ltd. (ZYDUSLIFE.BO, ZYDUSLIFE.NS), agreed to acquire Assertio for approximately $166.4 million in cash, or $23.50 per share.

The transaction is expected to close in the second quarter of 2026.

The offer represents a 30.6% premium to the $18 per share all-cash transaction with GUARD.ST announced on April 8.

The offer also represents a 7.8% premium to the revised $21.80 per share Garda transaction announced on May 4.

The transaction further represents a 75.8% premium to Assertio's unaffected closing stock price on March 20.

The company also said that the board determined that the Zydus offer constituted a "Superior Proposal" under the revised Garda merger agreement and authorized the termination of the Garda agreement to enter into the Zydus transaction.

Under the agreement, Zydus will commence a tender offer to acquire all outstanding shares of Assertio common stock for $23.50 per share in cash.

Following completion of the transaction, Assertio's common stock will no longer be listed on Nasdaq.

Zydus Lifesciences closed trading 0.92% higher at INR 939.25 on the National Stock Exchange.

In the pre-market trading, Assertio is 3.68% higher at $23.38 on the Nasdaq.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.