Italian pharma company Chiesi Group will buy U.S.-listed KalVista Pharmaceuticals in an all-cash deal valued at about $1.9 billion, the two companies said in a joint statement on Wednesday. The deal, marking the largest acquisition in the family-owned group’s history, will see Chiesi launch a tender offer to buy all outstanding KalVista shares for $27 per share in cash, representing a premium of about 40% to KalVista's last closing price.
Shares of KalVista jumped more than 38% in premarket trading, following the announcement. The boards of both companies have unanimously approved the transaction, which is expected to close in the third quarter of 2026, subject to regulatory approvals and other customary conditions, Chiesi and KalVista said.
