Stallergenes board approves amended terms for merger with Greer Laboratories

French allergy specialist Stallergenes’ board of directors has approved amended terms for the merger of the company with US-based Greer Laboratories.

The proposed value ratio has been determined via a multi-criteria approach based, in particular, on the discounted cash flow methods, listed comparables and comparable transactions. Following consultation with advisors and experts, the discounted cash flow methods led to a value of the respective weightings for Stallergenes and Greer ranging between 69% and 31% to 73% and 27%. Based on these analyses, the new terms of the proposed transaction reflect a Stallergenes to Greer value ratio of approximately 2.45, representing respective equity weightings of 71% and 29% for the two companies in the new entity.

Ares Life Sciences, the majority shareholder in Stallergenes, would hold 83.8% of the share capital of Ares Allergy Holding, the British subsidiary that will coordinate the new entity’s operations.