Concentra Group (CON) to Acquire IGM Biosciences

Concentra Group Holdings Parent, Inc. (NYSE:CON) is one of the 11 Hot New Stocks to Invest in Now. On July 1, Concentra Group Holdings Parent, Inc. (NYSE:CON) announced that it will acquire IGM Biosciences, a company that develops special antibody-based medicines.

The deal is set out in a formal merger agreement, where Gibson, Dunn & Crutcher LLP is acting as legal counsel to Concentra. The company will pay $1.247 in cash for each share of IGM Biosciences. Moreover, the shareholders will also receive a “contingent value right”. The Board of Directors of IGM has approved the deal, believing it is in the best interest of the shareholders.

Concentra Group (CON) to Acquire  IGM Biosciences

A medical professional performing a Magnetic Resonance Spectroscopy (MRS) scan on a patient.

The deal will only close if more than half of the voting shares are tendered and if IGM has at least $82 million in cash after paying all costs and clearing its debt. The transaction is expected to be completed in August 2025.

Concentra Group Holdings Parent, Inc. (NYSE:CON) is one of the largest providers of occupational health services in the United States.

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Disclosure: None. This article is originally published at Insider Monkey.