Novartis announces acquisition of Tourmaline at $48 per share.

On September 9th, Novartis announced that it has reached an agreement to acquire the biopharmaceutical company Tourmaline. According to the terms of the transaction, Novartis will initiate a tender offer through its indirect wholly-owned subsidiary to acquire all outstanding common shares of Tourmaline. Upon completion of the transaction, common shareholders of Tourmaline will receive a cash consideration of $48 per share. Following the completion of the tender offer, Novartis plans to merge the acquired subsidiary with Tourmaline, making Tourmaline an indirect wholly-owned subsidiary of Novartis.