US firm set to snap up Woodford's biotech holdings for $300m - reports

Acacia Research Corporation in talks with Link Fund Solutions

David Brenchley
Neil Woodford has also tabled an offer for the portfolio

Neil Woodford has also tabled an offer for the portfolio

US-based Acacia Research Corporation is set to acquire a portfolio of biotech holdings owned by Woodford Investment Management for $300m, according to reports.

The portfolio, which comprises assets in the stricken LF Equity Income fund (EIF), includes the likes of Theravance Biopharma, Oxford Nanopore and Rutherford Cancer Centres, according to Sky News. The deal could be finalised as soon as Wednesday (3 June), according to insiders, though it could still fall apart. Acacia is part-owned by US activist hedge fund Starboard Value. Its backer, or other outside investors, is likely to have to put up a large part of the cash, with Acacia's market capitalisation standing at $120m. Woodford fund suspension one year on: Liquidity mismatch remai...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Funds

The ETF will be available to investors on London Stock Exchange for a total expense ratio of 0.35%.

Franklin Templeton launches Catholic EM sovereign debt ETF

Article 8 ETF for European investors

clock 28 June 2022 • 1 min read
Alex Wright of Fidelity International

Fidelity's Alex Wright: People have misunderstood OMV Russia exposure

'Sentiment is overly pessimistic'

clock 23 June 2022 • 3 min read
Equity funds managed to stay in positive territory with €2.9bn of new net subscriptions

Morningstar: European fixed income funds suffer €16.5bn net outflows in May

Equity funds remained in positive territory

clock 23 June 2022 • 1 min read