France’s Servier offers to take full control of Egis Pharma
French privately held drugmaker Servier said yesterday that the Group has made a voluntary public offer (via its wholly-owned subsidiary Arts et Techniques du Progres) to buy all outstanding shares in its majority-owned Hungarian subsidiary Egis Pharmaceuticals (EGIS.BU) for 28,000 forint per share in cash, or almost $126.
The offer represents a premium of 33% over the closing price of Egis shares on the Budapest Stock Exchange on September 23 the last trading day preceding the announcement of the offer, and a premium of 38% over the average trading price of Egis over the six months ended September 23. The deal is worth 107 billion forints ($482.8 million).
Servier has significant stake in generic sector
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