Novartis has offered $4.5 billion to acquire all the remaining shares of Chiron it doesn't already own. To be successful, about half of the outstanding shareholders in Chiron have to agree to accept Novartis' offer of $40 per share. Novartis already owns 42 percent of the company. Novartis officials said they decided to pursue the takeover after completing due diligence on the company. According to a spokesman, Novartis plans to use the takeover to create a vaccine platform for the drug giant. In addition, the company said that a takeover would be in the best interest of shareholders and Chiron employees.
- read this story [1] USA Today for more
Links:
[1] http://www.usatoday.com/money/industries/health/drugs/2005-09-01-chiron-buyout_x.htm