The Board of Directors of Algeta ASA confirms that it is in receipt of a preliminary acquisition proposal from Bayer AG

Algeta ASA: The Board of Directors of Algeta ASA confirms that it is in receipt of a preliminary acquisition proposal from Bayer AG

  • In response to recent media commentary, the Board of Directors of Algeta ASA confirms that it is in receipt of a preliminary acquisition proposal from Bayer AG. 

  • The commentary in the media refers to an acquisition proposal at a price of NOK 306 per Algeta share. This is incorrect. The preliminary acquisition proposal is NOK 336 per Algeta share. 

  • There is no certainty that this preliminary acquisition proposal will lead to a transaction or as to the terms of any such transaction.

Oslo, Norway, 26 November, 2013 - The Board of Directors of Algeta ASA (OSE: ALGETA) today announced that it is in receipt of a preliminary acquisition proposal from Bayer AG which may or may not lead to a transaction. Discussions are at an early stage and further announcements may be made, as appropriate, in due course.

###

For further information, please contact:

Oystein Soug +47 90 65 65 25
CFO  
   
Mike Booth +1 646 410 1884
Communications & Corporate Affairs [email protected]
   

About Algeta

Algeta is a company focused on developing, manufacturing and marketing novel targeted therapies for patients with cancer. The Company is headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA performing commercial marketing operations in the US. Algeta is listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 

Suggested Articles

Plexium is launching with $28 million to build its platform and a pipeline of drugs that target the enzymes drive recognition of protein targets.

In this week's EuroBiotech Report, Healx raises $56 million, Boehringer's VC wing backs anti-cancer virus startup and Ipsen bags Blueprint drug.

In our EuroBiotech roundup this week, GammaDelta forms antibody spinout, gene therapy startup raises cash and Amsterdam plans medical business park.