Korean firm LG Chem buying AVEO Oncology for $566M

AVEO Oncology has agreed to an acquisition by Korean firm LG Chem for $566M in an all-cash deal. The offering price of $15.00/share represents a 43% premium over AVEO's closing price on Monday, October 17, 2022. Upon completion of the transaction, AVEO will establish and operate as the U.S. commercial foundation for LG Chem Life Sciences’ oncology segment.