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Special Cornerstone committee will consider Chiesi buyout as profit-loss ratio stagnates

 
• By Mandy Jackson

Cornerstone Therapeutics formed a special committee with five independent directors to develop a response to the Cary, North Carolina-based company's largest shareholder – the Chiesi Group of Parma, Italy – which wants to acquire the 40% of Cornerstone stock that it does not already own and take the US firm private.

Cornerstone Therapeutics formed a special committee with five independent directors to develop a response to the Cary, North Carolina-based company's largest shareholder – the Chiesi Group of Parma, Italy – which wants to acquire the 40% of Cornerstone stock that it does not already own and take the US firm private.

No timeline has been announced for when the special committee's board of directors will respond to Chiesi or when a transaction between the two companies may occur. Cornerstone's stock was down 4.3% to close at $6.44 per share on 25 February based on the news that it is preparing to respond to Chiesi's proposal

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