BB Biotech declines offer to go private

Swiss biotech fund BB Biotech AG (SIX:BION; Xetra:BBZA) rejected an offer from Swiss bank Vontobel Group to take it private. Vontobel said the offer is a 31.7% premium to the CHF81.95 BB Biotech share price on Thursday, July 12, the day before the offer was disclosed, which would put the offer price at about CHF107.93 per share, or a total of CHF1.4 billion ($1.4 billion) based on 13 million shares outstanding. ...