Dimension Therapeutics: Ultragenyx Completes Tender Offer and Acquisition of Dimension Therapeutics

NOVATO, Calif., Nov. 07, 2017 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) ("Ultragenyx" or the "Company"), a biopharmaceutical company focused on the development of novel products for rare and ultra-rare diseases, today announced the successful completion of its acquisition of Dimension Therapeutics, Inc. (NASDAQ:DMTX) ("Dimension"). Ultragenyx has completed its previously announced tender offer to purchase all outstanding shares of common stock of Dimension for $6.00 per share in cash, without interest, or approximately $152.3 million in cash."We welcome the talented Dimension employees to the Ultragenyx organization," said Emil D. Kakkis, M.D., Ph.D., Chief Executive Officer and President of Ultragenyx. "As a combined organization we believe we can optimally treat more rare genetic diseases and accelerate the process of bringing important new therapies to patients."As of the expiration of the tender offer at 12:00 midnight, Eastern time, on November 7, 2017 (one minute after 11:59 p.m., Eastern time, on November 6, 2017), approximately 21,947,871 shares were validly tendered and not withdrawn in the tender offer, representing approximately 86.5 percent of Dimension's outstanding shares, according to the depositary for the tender offer. The condition to the tender offer that a majority of Dimension's outstanding shares on a fully-diluted basis be validly tendered and not withdrawn has ...Full story available on Benzinga.com