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.

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.