Grunenthal launches public tender offer to acquire Andromaco

4 December 2013

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.

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