Vontobel withdraws offer for BB Biotech

Swiss bank Vontobel Group withdrew an offer to take Swiss biotech fund BB Biotech AG (SIX:BION; Xetra: BBZA) private. According to the bank, new Swiss tax provisions on public exchange offers that took effect in October made the deal "financially unattractive" for BB Biotech's shareholders. BB Biotech was off CHF0.15 to CHF85.85 on Tuesday. ...