Gabelli Enterprise Mergers & Acquisitions Fund on Catalyst Pharmaceuticals Inc.
Thesis
Angelini Pharma agreed to acquire Catalyst for $31.50 per share in cash. U.S. antitrust approval had been received and shareholders approved the transaction after quarter-end. The remaining return is tied to successful completion of the announced deal.
“The transaction is expected to close on July 15.”
Key risks
- The announced acquisition may not be completed
- The deal may close later than expected