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Lundbeck to acquire Chelsea Therapeutics for up to $658 mln

COPENHAGEN, May 8 (Reuters) - Danish pharmaceutical company H. Lundbeck said it had entered into a definitive agreement with Chelsea Therapeutics under which it will acquire the U.S. company.

Chelsea stockholders are entitled to $6.44 per share in cash and contingent value rights (CVRs) that may pay up to 1.50 dollar, corresponding to $658 million on a fully diluted basis, Lundbeck said.

The total potential consideration represents a premium of 59 percent over the closing price of Chelsea shares on May 7, Lundbeck added.

(Reporting by Teis Jensen; Editing by Pravin Char)