FX.co ★ Vanda Receives Revised Takeover Proposal From Future Pak; Stock Up

Vanda Pharmaceuticals Inc. (VNDA) announced on Thursday that it has received an updated acquisition proposal from Future Pak, LLC. The offer values Vanda at $8.50 to $9.00 per share in cash, in addition to certain Contingent Value Rights. The biopharmaceutical company indicated that its board will thoroughly review and evaluate the new proposal before reaching a final decision.

As of now, Vanda's stock has risen by 13.20%, trading at $6.70, compared to the previous close of $5.92 on the Nasdaq.