This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ54056_L.jpg
The Danish company said it had entered into exclusive negotiations with Bio Jag, Biocorp’s main shareholder, for the purchase of its over 45% stake in the French company at a price of 35.0 euros ($37.44) per share in cash.
The price represents a premium of 19.5% over Biocorp’s closing market price on June 2 and the transaction values Biocorp at about 154 million euros, the companies said.
Certain minority shareholders, representing 19.0% of the share capital of Biocorp, will also transfer shares to Novo Nordisk and the transaction will be followed by a squeeze-out procedure.
The block purchase should take place during the third quarter of 2023 and the filing of the subsequent offer should take place in September 2023, Novo said.
($1 = 0.9349 euros)
