Revance Therapeutics Faces Competing Buyout Offers: Teoxane SA Outbids Crown Laboratories

Competing Offers: Revance Therapeutics is considering two buyout offers:
one from Crown Laboratories at $3.10 per share and a superior proposal from Teoxane SA at $3.60 per share, representing a 16% premium over Crown's offer24.

Teoxane's Proposal:
Teoxane SA, which already owns 6.2% of Revance's outstanding shares, has proposed a cash acquisition that is expected to have minimal regulatory risks due to their existing commercial relationship and distribution agreement4.

Crown Laboratories' Offer:
Crown Laboratories had previously agreed to acquire Revance for $3.10 per share in cash, with the transaction expected to close in the first quarter of 20252.

Regulatory Approvals:
Both proposals are subject to regulatory approvals, but Teoxane anticipates fewer regulatory hurdles due to their existing business relationship with Revance4.

Financial Considerations:
Teoxane is described as highly profitable with substantial cash reserves and is working with financial advisors to secure committed financing for the acquisition4.

Timeline:
The transaction is expected to proceed quickly, with Teoxane prepared to conduct limited due diligence due to their existing knowledge of Revance's operations4.

Sources:

2. https://www.prnewswire.com/news-releases/crown-laboratories-and-revance-enter-into-amended-and-restated-merger-agreement-302325868.html

4. https://www.stocktitan.net/news/RVNC/teoxane-sa-announces-superior-proposal-to-acquire-revance-k4sqxbx1et9u.html