BridgeBio takeover of Eidos approved by shareholders of both companies

Shareholders of both companies approved BridgeBio Pharma Inc.'s acquisition of the remaining 36.3% stake in Eidos Therapeutics Inc. it does not already own.

Under the deal, Eidos shareholders may opt to receive either 1.85 shares of BridgeBio common shares or $73.26 in cash for every Eidos share they own, up to a combined maximum of $175 million in cash.

Closing is expected to occur on or about Jan. 26, upon which San Francisco-based Eidos will become wholly owned subsidiary of Palo Alto, Calif.-based BridgeBio.

BridgeBio and Eidos CEO Neil Kumar previously said the transaction will pave the way for investing in opportunities around Eidos' experimental medicine acoramidis, which is intended to treat transthyretin amyloidosis, a rare disorder characterized by an abnormal buildup of a protein called amyloid in the body's organs and tissues.