4:02 PM
Jan 12, 2018
 |  BioCentury  |  Finance

Assessing Ablynx

How Ablynx investors are weighing Novo’s offer for the Belgian biotech

While a group of investors in Ablynx N.V. (Euronext:ABLX; NASDAQ:ABLX) don’t agree on what is fair value for the Belgian biotech, they do think a $2.8 billion offer from Novo Nordisk A/S (CSE:NOVOB; NYSE:NVO) undervalues Ablynx’s pipeline and Nanobody platform.

On Jan. 8, both companies disclosed that Novo had made two unsolicited offers to acquire Ablynx in December. On Dec. 22, Novo proposed to pay €30.50 per share, including a contingent value right worth up to €2.50 per share. The bid was a 50% premium to Ablynx’s Dec. 21 close of €20.39, valuing the biotech at €2.3 billion ($2.8 billion) based on 74.7 million shares...

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