Novartis gains support for $5.1B bid for Chiron shares

Novartis has won over Chiron's board of directors with a sweetened offer of $5.1 billion for the 58 percent of the company's shares it doesn't already own. The bid increases Chiron's offer to $45 per share, up from $40. Novartis plans to inject fresh capital into Chiron's troubled vaccine business, increasing capacity and resolving quality issues once and for all. Chiron has been reeling since British regulators shut down its Liverpool facility after discovering contamination. Chiron was supposed to supply half of the flu vaccine needed in the US last season.

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