Egis Pharmaceuticals, Servier deal
Servier made a public offer to acquire the 3.8 million shares, or about 49.1% stake, of generic company Egis that Servier does not already own for HUF28,000 per share, or about HUF107 billion ($484.8 million) in cash. The offer values the company at HUF218 billion ($987.5 million) based on 7.8 million shares outstanding on Sept. 24. The share price is a 33% premium to Egis' close of HUF21,050 on Sept. 23, the day before the offer was announced. Servier, which has owned a majority stake in Egis since 1995, said it does not intend to make any significant changes to the strategy or operations of Egis but will request a meeting to decide on the delisting of Egis. Servier also said the offer price is final and will not be revised. The offer has been submitted to the Hungarian Financial Supervisory Authority. Shareholders will have at least 30 days after the offer is approved to accept. KBC Securities Hungary is advising Servier. Gide Loyrette Nouel is Servier's legal advisor. ...