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Samsung Biologics secures 87.9% of PolyPeptide in tender offer

The 1.46 billion Swiss franc purchase, the largest M&A in Korean pharma, is set to close by the end of November pending clearances in Europe, India, Australia and Brazil.

By Tom Reyes · Markets Editor

Oct 13 01:17 ETSource: 헤럴드경제

The wire

01Shareholders tendered 29,014,418 PolyPeptide shares at 44.31 Swiss francs each, 87.88 percent of the shares sought and above the 66.7 percent minimum, including Draupnir Holding's entire 18,375,000-share stake.
02The deal moves Samsung Biologics from antibodies, mRNA and ADCs into peptide CDMO capacity, adding a major contract manufacturer for obesity and diabetes peptide ingredients.
03Auditor-verified interim results were due Friday, with an additional acceptance period through Oct. 30 and payment within 10 trading days after regulatory approvals.

From the source

Samsung Biologics secures 87.9% stake in PolyPeptide Group, clearing tender offer threshold
29.01 million shares tendered, surpassing minimum 66.7% condition

Read at mbiz.heraldcorp.com

Source URL https://mbiz.heraldcorp.com/article/10901049