The Gabelli ABC Fund on Catalyst Pharmaceuticals Inc.
Thesis
Angelini Pharma agreed to acquire Catalyst Pharmaceuticals for $31.50 per share in cash. U.S. antitrust approval had already been received and shareholders approved the transaction after quarter-end. The investment thesis is the remaining merger spread into the expected July 15 closing.
“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