(Reuters) -Anti-wrinkle injection maker Revance Therapeutics has agreed to be bought for $3.10 per share by privately held Crown Laboratories, instead of the $6.66 per share agreed previously, the two companies said on Monday.
Shares of Revance were down 20.4% in premarket trade.
The companies expect the transaction to close in the first quarter of 2025.
The offer was reduced after Revance said in September it received a notice for a breach of its exclusive distribution agreement for Teoxane’s dermal fillers. This led to Crown and Revance extending the date to close the deal first announced in August.
(Reporting by Puyaan Singh in Bengaluru; Editing by Vijay Kishore)
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