Samsung Biologics clears tender threshold to acquire PolyPeptide Group
Shareholders tendered 87.88% of targeted shares at CHF 44.31 each, well above the 66.7% minimum, in a CHF 1.46 billion deal.
The wire
- 01Samsung Biologics said 29,014,418 shares were tendered through its SPC Samsung Peptide, including Draupnir Holding's entire 18,375,000-share stake, clearing the 66.7% minimum condition for the Swiss peptide CDMO acquisition.
- 02The deal gives a major antibody manufacturer peptide capacity aimed at obesity and diabetes drug production, a supply-side shift for sponsors seeking peptide API and fill-finish slots.
- 03Confirmed interim results are due Oct. 16, an additional tender period runs Oct. 19-30, and closing still requires regulatory approvals in Europe, India, Australia and Brazil, targeted for end-November.
From the source
Read at biz.chosun.comSamsung Biologics secures control of PolyPeptide to expand peptide CDMO - CHOSUNBIZ
Samsung Biologics(207940) secured 87.88% of the shares targeted in the tender offer to acquire Swiss peptide contract development and manufacturing organization (CDMO) corporations Polypeptide Group. It cleared the minimum condition of 66.7% to accept the transaction, switching on the green light for the company's entry into the peptide business.
