Cubist said it would pay Optimer shareholders $10.75 a share in cash upfront, and an additional $5 a share contingent on Optimer's meeting certain sales milestones.
The total value of $15.75 a share is a premium of about 19 percent to Optimer's closing price of $13.29 on Tuesday, but it represents a discount minus the contingent payment.
For Trius, Cubist said it would pay $13.50 a share in cash and an extra $2 a share if Trius meets certain sales targets. The collective $15.50-a-share offer is about 32 percent more than Trius's Tuesday closing price of $11.71.
Cubist, known for its Cubicin antibiotic, would gain a late-stage Trius drug that has shown promise in treating skin infections. From Optimer, Cubist will acquire the antibacterial Dificid, which brought in sales of about $19 million in the quarter that ended June.
Brian Skorney, an analyst at Robert W. Baird, said that while he did not think Cubist would get a lot of value out of the Optimer deal, he did not think that "it's going to wind up looking like a bad deal."
He added that he saw risk in some overlap in Trius and Cubist products.
Cubist shares rose about 6 percent to $60.25 in after-hours trading, after closing at $57. Trius shares were trading up at $13.69, and Optimer was down at $12.24 after hours.
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