SOBI confirms receipt of takeover approach

27 April 2015

Nordic biotech firm Swedish Orphan Biovitrum (STO: SOBI) saw its shares leap 16% to 129.60 Swedish kronor this morning, after the firm’s board confirmed that it has received a preliminary and conditional non-binding proposal in relation to a possible offer for all shares issued by the company.

The announcement followed the recent speculation in the press and elsewhere regarding a potential acquisition of the company.The company is currently valued at about 30.8 billion Swedish kronor (around $3.56 billion).

There can be no certainty that an offer will be made, nor as to the terms of any such offer. A further announcement will be made when appropriate, said SOBI. Although it made no mention of the potential suitor, two USA-based contenders have been rumored.

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