Shareholders of biotechnology company Aimmune Therapeutics Inc. (AIMT) have thrown their support behind a $2 billion tender offer from Swiss food and drink processing company Nestle SA (SWX: NESN) to gain entire ownership of the first peanut allergy treatment approved by the United States.
Launch of the peanut allergy treatment has been sluggish due to the coronavirus pandemic which has shifted focus of almost everything across the world.
“The minimum tender condition to the consummation of the offer set forth in the offer to purchase has been satisfied,” said Nestle.
Currently, Nestle remains the largest intuitional holder of Aimmune shares with 19.46% of the total outstanding shares which have a total valuation of $438.87 million as per the stock’s closing price on October 12.
