Supernus, Indivior agree all-stock merger, Indivior shareholders to get $1 billion special dividend
SUPN•All-stock merger terms and special dividend
Supernus agreed to merge with Indivior in an all-stock deal, creating a CNS-focused biopharma group with about $2.2 billion in annual revenue.
Supernus holders will receive 1.5401 Indivior shares per Supernus share; Indivior holders will get a $1 billion special dividend pre-close.
Financing, ownership split and closing timeline
Dividend financing includes a $650 million term loan from Citibank N.A., with the balance funded from existing cash.
Post-close ownership split is set at about 56.5% for Indivior holders and 43.5% for Supernus holders. The combined company will be named Supernus, ticker SUPN. The companies are targeting $125 million in annual cost synergies, and closing is expected in Q4 2026.
