BridgeBio Pharma  (BBIO) – Get Report shares are falling premarket after the company said it would buy the 36.3% of Eidos Therapeutics  (EIDX) – Get Report that it doesn’t already own for cash and stock valued at $73.26 a share. 

Eidos shares at last check jumped 32% to $68.29. The plan gives holders a 55% premium to the volume-weighted-average price of the stock over the 30 trading days through Oct. 2. The premium is 41% over the San Francisco company’s Friday closing price of Eidos at $51.92.

BridgeBio shares at last check fell 6.6% to $36.99.

Terms give Eidos holders the right to receive either 1.85 BridgeBio shares or $73.26 cash for each of their shares. The maximum total cash offered in the deal is $175 million. 

Both companies’ boards have approved the transaction. 

Holders of two-thirds of Eidos shares not held by BridgeBio must approve the deal.  A majority of shares held by BridgeBio holders must also approve the purchase. The companies do not need antitrust clearance to close the deal, BridgeBio said.

BridgeBio said it would fund the deal with cash on hand. 

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