In early November, Swedish biotech firm Q-Med said it had received a $502 million offer from from Ivytan, a firm owned by private equity group EQT V and Lyftet Holding. It appears that deal has fallen apart. In a brief statement, the companies said that Ivytan's offer has been withdrawn because "the conditions were not satisfied during the acceptance period that ended on Monday 8 December, 2008." RTT News reports that Q-Med advised shareholders not to accept the offer "as it does not reflect Q-Med's long term potential." No further details on the deal were disclosed.
- see the statement
- here's the RTT piece