Tercica, Inc. (TRCA) Enters Merger Agreement with Ipsen, S.A. (Euronext: IPN)
Tercica, Inc. (NASD: TRCA) announced that they have entered into a definitive merger agreement with Ipsen, S.A. (Euronext: IPN). The merger states an affiliate of Ipsen will acquire all of the shares of Tercica common stock that Ipsen doesn't already own at a price of $9.00 per share in cash, valuing Tercica at approximately $663 million. The transaction still has to be approved by Tercica's shareholders, who hold a majority of the company's outstanding common stock, but the board of directors unanimously approved the deal. As of now, Ipsen and their affiliates own approximately 25.3% of the outstanding Tercica common…