Grunenthal launches public tender offer to acquire Andromaco
German family-owned drugmaker Grunenthal Group has now published its public tender offer to acquire all outstanding shares in Chilean pharmaceutical company Laboratorios Andromaco.
The offer price of 332.48 pesos represents a premium of 66.99% on the closing price of September 6, the last trading day before the disclosure of the original agreement between major Andromaco shareholders and Grunenthal, valuing the transaction at around $359 million.
The goal of the original accord was to acquire 83% of the firm’s shares at a cost of $302million. Andromaco is a regional pharmaceutical company in Latin America, that manufactures and markets a wide range of pharmaceutical products with sales of around $200 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of $36 million in 2012.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze