---
title: "Ligand Pharmaceuticals Launches Takeover Plan at XOMA Royalty Corporation with 47.0% Stake"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284950193.md"
description: "Ligand Pharmaceuticals has disclosed a 47.0% stake in XOMA Royalty Corporation through voting agreements, as part of a merger plan to acquire XOMA for $39 per share in cash plus contingent value rights. The merger agreement, filed on May 1, 2026, requires a holding company reorganization, HSR clearance, and a majority stockholder vote. Key holders representing 47% of the vote have agreed to support the deal by converting preferred shares to common shares. Ligand focuses on acquiring royalty-producing drug assets and aims to generate long-term royalty streams."
datetime: "2026-05-02T01:16:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284950193.md)
  - [en](https://longbridge.com/en/news/284950193.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284950193.md)
---

# Ligand Pharmaceuticals Launches Takeover Plan at XOMA Royalty Corporation with 47.0% Stake

Ligand Pharmaceuticals Incorporated disclosed a 47.0% stake in XOMA Royalty Corporation through voting and support agreements. The company filed the Schedule 13D on May 1, 2026, tied to a merger deal signed on April 27, 2026. The move positions Ligand to acquire XOMA for $39 per share in cash plus contingent value rights.

**Investor Intent**

Ligand signed a merger agreement to buy XOMA for $39.00 per share in cash and a contingent value right tied to proceeds from a CVR Trust that will hold 75% of RemainCo LLC. The deal requires a holding company reorganization, a CVR spin, HSR clearance, and a majority stockholder vote, and it carries no financing condition.

Key holders agreed to back the deal and convert their preferred shares to common to vote in favor, covering about 47% of the vote. “Each common share will receive $39 in cash plus a CVR,” and “supporting investors holding about 47% have agreed to vote for the deal.”

**Investor's Background**

Ligand Pharmaceuticals Incorporated is a Delaware corporation that acquires and aggregates royalty-producing drug assets and provides funding tied to those assets. The company focuses on partner-driven programs that can generate long-dated royalty streams and milestone payments. Ligand, known for a portfolio of commercial and development-stage royalties, invests with a capital-light model to scale cash flows.

Original SEC Filing: XOMA Royalty Corp \[ XOMA \] - SCHEDULE 13D - May. 01, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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