27.02.2014 • NewsMergers & Acquisitions (M&A)AlgetaBayer

Bayer Reaches 92.7% of Takeover Candidate Algeta

Bayer group has now met its target for the acquisition of Norwegian pharmaceutical producer Algeta. The German group said on Feb. 26 it had received acceptance from an estimated 97.23% of the company's share capital, valuing the company at 16.2 billion Norwegian crowns (€1.9 billion).

Bayer offered shareholders €2.1 billion, 37% more than the closing price on Nov. 25, 2013, the day before the takeover plans were announced.

As all regulatory clearances already have been obtained, the transfer of shares and the payment of the offer price will take place no later than Mar. 12, Bayer said. Subsequently, the Leverkusen-based pharmaceuticals, agrochemicals and material science group plans to begin a squeeze-out of Algeta's remaining shareholders and then delist the company from the Oslo stock exchange.

The takeover is expected to be formally completed during the first quarter. Bayer Nordic, based at Espoo, Finland, launched a takeover vehicle for the acquisition in January.

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.

CHEManager Spotlight

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics
Creating Interfaces

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics

CHEManager Spotlight is an exclusive event tailored for practitioners and decision-makers in the chemical industry. This part of our event series delves into the latest trends and innovations in logistics to streamline your operations and drive efficiency.