(Reuters) — South Korea’s Samsung Biologics will launch a 1.46 billion Swiss francs ($1.81 billion) all-cash bid for Swiss contract drugmaker PolyPeptide, the companies said in separate statements.<\/p>\n
The offer at 44.31 Swiss francs per share represents a premium of about 6.1% to PolyPeptide’s last closing price of 41.75 Swiss francs on Friday, according to a Reuters calculation.<\/p>\n
The tender offer is expected to launch by the end of August and close by year-end, Samsung Biologics said.<\/p>\n
The takeover would expand the South Korean firm’s capabilities in peptide-based therapeutics, including fast-growing obesity and diabetes treatments such as GLP-1 drugs, the company said.<\/p>\n
PolyPeptide said its board had unanimously recommended shareholders accept the offer.<\/p>\n
Samsung Biologics said after the deal was completed it aimed to pursue a squeeze-out of any remaining minority shares and would delist PolyPeptide from the SIX Swiss Exchange, making it a wholly owned unit of the company.<\/p>\n
PolyPeptide said its largest individual shareholder, Draupnir Holding, which owns about 55.65% of the company, supported the deal and would tender all of its shares into the offer.<\/p>\n
The Swiss company said in April that Draupnir was conducting a review of strategic options with regard to its majority stake in PolyPeptide.<\/p>\n
Draupnir’s parent entity is the Cryosphere Foundation, which has links to Swedish billionaire Frederik Paulsen, PolyPeptide has said previously.<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) — South Korea’s Samsung Biologics will launch a 1.46 billion Swiss francs ($1.81 billion) all-cash bid for…\n","protected":false},"author":2,"featured_media":105414,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[4],"tags":[45577,15472,42233,51691,35622,51692,23955,41,17],"class_list":["post-105413","post","type-post","status-publish","format-standard","has-post-thumbnail","category-switzerland","tag-45577","tag-bid","tag-biologics","tag-bn","tag-launch","tag-polypeptide","tag-samsung","tag-swiss","tag-switzerland"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116949992296871601","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/105413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=105413"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/105413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/105414"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=105413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=105413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=105413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}