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CNTABullishM&Anews

High materiality9/10

Lilly to Acquire CNTA for $38 Cash and CVR worth up to $9

Jun 22, 2026, 4:07 PM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

The offer establishes a near-certain price floor at $38 per CNTA, with additional CVR upside; historical takeovers of small biotechs often propel pre-close moves toward the deal price; risk remains until closing.

AI summary

What happened, with direct paths to the underlying reporting

Centessa has secured court approval for Eli Lilly’s cash-and-CVR acquisition, valued at about $7.8 billion, at $38 per CNTA share plus a CVR up to $9. Closing is slated for June 24, 2026, with CNTA ADS delisting and trading halted that day. The CVR depends on milestones, creating optional upside beyond the offer price but adds payoff risk.

Lilly offers CNTA: $38 per share cash plus up to $9 CVR.
Total value about $7.8 billion; closing expected June 24, 2026.
CNTA ADS last traded June 23; trading halted June 24.
UK Takeover Code does not apply; no mandatory disclosures.
CVR payments depend on milestones; payout uncertain and timing variable.

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Lilly to Acquire CNTA for $38 Cash and CVR worth up to $9

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