AbbVie’s $10B ImmunoGen deal was won by paying $7 a share over a rival bidder’s offer, SEC filings show

In Im­muno­Gen’s months-long ne­go­ti­a­tions to sell it­self, Ab­b­Vie came in rel­a­tive­ly late but man­aged to seal the deal with an of­fer much high­er than ri­val bids, an SEC doc­u­ment re­veals.

On Nov. 30, Ab­b­Vie an­nounced that it was ac­quir­ing Im­muno­Gen and its an­ti­body-drug con­ju­gate port­fo­lio for $10.1 bil­lion, just over a month af­ter rep­re­sen­ta­tives of Im­muno­Gen first reached out. The phar­ma gi­ant beat a “Par­ty A” — the com­pa­ny that had ini­ti­at­ed the whole process back in April — and a “Par­ty B” that put in mul­ti­ple pro­pos­als to ac­quire Im­muno­Gen.

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