Telix (TLX) to Buy Germany’s ITM for up to $2.35 Billion to Lock in its Cancer Isotope Supply

Telix Pharmaceuticals Limited (NASDAQ:TLX) agreed on September 21 to acquire ITM Isotope Technologies Munich SE. The deal is worth up to $2.35 billion. Telix will pay $1.65 billion upfront, before cash and debt. A further $700 million follows if ITM's lead drug wins approval and hits sales targets. Telix is paying mostly in its own stock, which is why the cost lands on shareholders now. It will issue 105.8 million shares, with the balance made up of ITM debt it assumes, transaction costs, and rolled-over management equity. The deal needs approval from Telix shareholders and regulators, and should close by the end of the year.Telix (TLX) to Buy Germany's ITM for up to $2.