Investors should vote their shares by the deadlines to ensure the transaction proceeds. The stock is likely to trade close to the $38.00 offer price until closing. Monitor for any competing bids or regulatory issues that could delay or derail the deal.
Price Chart
Executive Summary
Centessa Pharmaceuticals (CNTA) is being acquired by Eli Lilly (LILY) in a $7.8B deal structured as a Scheme of Arrangement. Shareholders will receive $38.00 in cash per share plus a contingent value right (CVR) worth up to $9.00 per share based on future milestones. The deal, recommended by Centessa's board, is expected to close in Q3 2026 pending shareholder and regulatory approval.
Key Financial Metrics
Key Facts
- Eli Lilly is acquiring Centessa Pharmaceuticals for $38.00 per share in cash, plus a contingent value right (CVR) worth up to $9.00 per share.
- The total deal value is approximately $7.8 billion, including the CVR component.
- Centessa's board unanimously recommends shareholders vote in favor of the transaction.
- The deal structure is a Scheme of Arrangement under UK law, requiring approval from both shareholders and the UK High Court.
- The transaction is expected to close in the third quarter of 2026, subject to regulatory and antitrust approvals.
- Centessa's financial advisors, Centerview and Jefferies, provided fairness opinions supporting the transaction price.
Financial Impact
Total transaction value of $7.8 billion, with $38.00 in cash per share and a potential $9.00 per share from CVRs.
Risk Factors
- The transaction is subject to regulatory approval, which could be delayed or denied.
- The CVR component is contingent on future milestones and may not be fully realized.
- The deal could be derailed by a competing offer or a change in board recommendation.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| PREM14A Filing (Primary) | 0001193125-26-161682 |
| Document: d148719dexfilingfees.htm | 0001193125-26-161682 |
| Document: 0001193125-26-161682-index-headers.html | 0001193125-26-161682 |
| Document: 0001193125-26-161682-index.html | 0001193125-26-161682 |
| Document: 0001193125-26-161682.txt | 0001193125-26-161682 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 6, 2026 12w ago | 15-12G | — | awaiting T+20 | — | — |
Apr 17, 2026 23w ago | PREM14A | $39.51 $39.64 | ▲ +0.33% | ▼ −3.87% | — |
Apr 13, 2026 24w ago | DEFA14A | $39.59 $39.59 | · 0.00% | ▼ −6.30% | — |
Mar 13, 2026 29w ago | Insider Cluster | $26.33 $39.57 | ▼ −50.28% | ▼ −46.70% | — |
Mar 13, 2026 29w ago | Insider Cluster | $26.33 $39.57 | ▼ −50.28% | ▼ −46.70% | — |
US Market Status
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