Filing Flows › Pacira BioSciences (PCRX) › Takeover & LBO
Is Pacira BioSciences (PCRX) a takeover target?
A leveraged buyout at today's price plus 30% ($47.26 a share) would return about 3% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $28.30 a share (−22% against today's $36.35). Historically 5.5% of companies with its figures were bought within a year (1.09× the average). Latest signal (2026-11-05): As previously disclosed, on October 8, 2026, Pacira BioSciences, Inc., a Delaware corporation (the “Company” or “Pacira”), entered into the Agreement and Plan of Merger (the “Merger Agreement”) with Viatris Inc., a Delaware corporation (“Vi.
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $47.26 | today's $36.35 plus 30% |
| × shares | 40.3 million | |
| = Equity value | $1.9B | |
| + Debt refinanced | $363M | |
| − Cash | $251M | |
| = Enterprise value | $2.0B | 19.2× EBITDA of $105M |
| Fees | $40.3M | 2% of the price |
| New debt | $578M | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $1.5B | 72% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $789M | $111M | $44.2M | $54.0M | $524M |
| Year 2 | $828M | $117M | $40.1M | $63.5M | $460M |
| Year 3 | $865M | $122M | $35.2M | $73.4M | $387M |
| Year 4 | $896M | $126M | $29.6M | $83.6M | $303M |
| Year 5 | $923M | $130M | $23.2M | $93.6M | $210M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 15.0× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $2.0B | |
| − Debt left | $210M | |
| = Buyer's equity | $1.7B | |
| Money multiple | 1.18× | on $1.5B put in |
| Buyer's yearly return (IRR) | 3.3% |
Price against return
What the buyer makes at other premiums over today's $36.35; the IRR reaches 20% at $28.30 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $39.99 | 8.1% |
| 20% | $43.62 | 5.5% |
| 30% | $47.26 | 3.3% |
| 40% | $50.89 | 1.4% |
| 50% | $54.53 | −0.4% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $746M | |
| EBITDA, last 12 months | $105M | 14.1% of revenue |
| Depreciation and amortization | $85.2M | |
| Capital spending | $8.1M | |
| Debt | $363M | |
| Cash | $251M | |
| Share price | $36.35 | on Oct 12, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 5.7% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 30% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Pacira BioSciences would cost about $49.07 a share, $2.0B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 22% | $44.35 | $1.8B |
| Median | 35% | $49.07 | $2.0B |
| High end (a quarter paid more) | 45% | $52.71 | $2.1B |
The odds, from history
Historically 5.5% of companies with its figures were bought within a year (1.09× the average). Its figures put it in decile 7 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Rumors and deal signals
- 2026-11-05 · 8-K deal · As previously disclosed, on October 8, 2026, Pacira BioSciences, Inc., a Delaware corporation (the “Company” or “Pacira”), entered into the Agreement and Plan of Merger (the “Merger Agreement”) with Viatris Inc., a Delaware corporation (“Vi
- 2026-10-30 · SC 14D9 · Response to a tender offer (Schedule 14D-9)
- 2026-10-08 · deal · Agreed sale to Viatris Inc at $36.5 cash a share · pending
Pacira BioSciences' latest quarter
Pacira BioSciences, Q3 2026: revenue $177M (-2% year over year), operating margin 12.6%, net earnings $28.5M, operating cash flow $50.1M. The chart follows the revenue to costs, profit and cash.
Questions
Is Pacira BioSciences being acquired?
The latest signal on file is from 2026-11-05: As previously disclosed, on October 8, 2026, Pacira BioSciences, Inc., a Delaware corporation (the “Company” or “Pacira”), entered into the Agreement and Plan of Merger (the “Merger Agreement”) with Viatris Inc., a Delaware corporation (“Vi. A headline is not a deal; Filing Flows lists the news, 8-K filings and 13D filings about a sale.
Could private equity buy Pacira BioSciences?
A leveraged buyout at today's price plus 30% ($47.26 a share) would return about 3% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $28.30 a share (−22% against today's $36.35).
What would a takeover of Pacira BioSciences cost?
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Pacira BioSciences would cost about $49.07 a share, $2.0B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.