08:35 AM EDT, 08/12/2024 (MT Newswires) -- Revance Therapeutics ( RVNC ) has agreed to be acquired by Crown Laboratories for $924 million, the companies said Monday.

Under their merger agreement, Crown will make a tender offer to acquire all outstanding Revance shares for $6.66 each, an 89% premium to Friday's close, according to the companies.

They said Revance's board has approved the proposed transaction and recommended that the company's shareholders tender their shares.

Following the transaction, which is expected to close by year-end, Revance would be wholly owned by Crown and no longer publicly traded on Nasdaq, the companies said.

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