Samsung Biologics clears minimum threshold in PolyPeptide tender offer
Holders tendered 87.88% of targeted shares at 44.31 Swiss francs apiece, above the 66.7% condition, in a 1.46 billion franc deal.
TR
By Tom Reyes · Markets Editor
Oct 13 01:40 ETSource: Seoul Economic Daily
The wire
- 01Preliminary interim results from the Sept. 15 to Oct. 12 tender offer show 29,014,418 of 33,016,411 targeted PolyPeptide Group shares tendered, including Draupnir Holding's entire 18,375,000-share stake.
- 02The purchase moves Samsung Biologics' CDMO capacity beyond antibodies into peptide manufacturing, the supply base behind diabetes and obesity drugs and much contract peptide API work.
- 03An additional offer period runs Oct. 19-30; closing depends on regulatory clearances in Europe, India, Australia and Brazil, with delisting and a possible minority squeeze-out above 90%.
From the source
Read at en.sedaily.comSamsung Biologics Clears Tender Offer Threshold for PolyPeptide Group
Samsung Biologics (207940.KS) has cleared the minimum acceptance threshold in its tender offer for PolyPeptide Group, a global peptide contract development and manufacturing organization. The company plans to complete the acquisition by the end of next month after an additional offer period.
