Lilly Acquires Centessa

The High Court of Justice of England and Wales has approved Eli Lilly’s acquisition of Centessa Pharmaceuticals for roughly $7.8 billion. Under the agreement, Centessa shareholders will receive $38 in cash per share plus a contingent value right (CVR) that may pay up to an additional $9 per share if three milestones are met. The deal will be executed via a scheme of arrangement under English law; the court order that finalises the transaction is expected to be delivered to the Registrar of Companies on June 24 2026. When the order takes effect, Centessa’s American Depositary Shares will be delisted from Nasdaq and trading will resume on the same day. The transaction is not subject to the UK Takeover Code, and the company has warned that closing could be delayed or fall through if conditions are not satisfied.